##### Table of Contents

As filed with the Securities and Exchange Commission on April 28, 2015







UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 20-F





(Mark One)

| ̈ | REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | ------------------------------------------------------------------------------------------------

or



|x | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | ------------------------------------------------------------------------------------

For the fiscal year ended December 31, 2014

or



| ̈ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | ----------------------------------------------------------------------------------------

For the transition period from
[] to
[]

or



| ̈ | SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | -------------------------------------------------------------------------------------------

Date of event requiring this shell company report

For the transition period from
[] to
[]

Commission file number: 001-35053





InterXion
Holding N.V.

(Exact name of registrant as specified in its charter)





The Netherlands

(Jurisdiction of incorporation or organization)

Tupolevlaan 24

1119 NX
Schiphol-Rijk

The Netherlands

+31 20 880 7600

(Name,
Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)





Securities
registered or to be registered pursuant to Section 12(b) of the Act:



|                                                    |  |                                          
|--------------------------------------------------- |  | -----------------------------------------
|Title of Each Class                                 |  | Name of Each Exchange on Which Registered
|Ordinary shares, with a nominal value of 0.10 each |  | New York Stock Exchange                  

Securities registered or to be registered pursuant to Section 12(g) of the Act:

None

(Title of Class)

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:

None

(Title of Class)





Indicate the number of outstanding shares of each of the issuers classes of capital or common stock as of the close of the period covered by the annual
report:

69,317,029 ordinary shares

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act:    Yes  x    No   ̈

If this report is an
annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.    Yes   ̈    No  x

NoteChecking the
box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from their obligations under those Sections.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No   ̈

Indicate by check mark
whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the
preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes   ̈    No  x

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a
non-accelerated filer. See definition of accelerated filer and large accelerated filer in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated
filer  x            Accelerated
filer   ̈                Non-accelerated filer   ̈

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:



|             |  |                                                                                                          |  |         
|------------ |  | -------------------------------------------------------------------------------------------------------- |  | --------
|U.S. GAAP   ̈ |  | International Financial Reporting Standards as issued
by the International Accounting Standards Board  x |  | Other   ̈

If Other has been checked in response to the previous question, indicate by check mark which financial statement
item the registrant has elected to follow:    Item 17   ̈    Item 18   ̈

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes  ̈ No x

(APPLICABLE ONLY TO ISSUERS INVOLVED IN
BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)

Indicate by check mark whether the registrant has filed all documents and reports required to be filed
by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a
court.    Yes   ̈    No   ̈









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Introduction

Presentation of Financial Information

Unless otherwise indicated, the financial information in this annual report has been prepared in accordance with International Financial
Reporting Standards, or IFRS, as issued by the International Accounting Standards Board. The significant IFRS accounting policies applied to our financial information in this annual report have been applied consistently.

Financial Information

The financial
information included in Financial Statements is covered by the auditors report included therein. The audit was carried out in accordance with standards issued by the Public Company Accounting Oversight Board (United States).

EBITDA and Adjusted EBITDA

In this
annual report we refer to our EBITDA and Adjusted EBITDA. We define EBITDA as operating profit plus depreciation, amortization and impairment of assets. We define Adjusted EBITDA as EBITDA adjusted to exclude share-based payments, increase/decrease
in provision for onerous lease contracts, transaction costs and income from sub-leases on unused data center sites. Adjusted EBITDA margin is defined as Adjusted EBITDA as a percentage of revenue. For a reconciliation of EBITDA and Adjusted EBITDA
to Operating profit/(loss) and Profit for the year attributable to shareholders, see Operating and Financial Review and ProspectsEBITDA and Adjusted EBITDA. EBITDA, Adjusted EBITDA and other key performance indicators may not be
indicative of our historical results of operations, nor are they meant to be predictive of future results.

Additional Key Performance Indicators

In addition to EBITDA and Adjusted EBITDA, our management also uses the following key performance indicators as measures to evaluate
our performance:



| |  |  | Equipped Space: the amount of data center space that, on the relevant date, is equipped and either sold or could be sold, without making any significant additional investments to common infrastructure. Equipped Space at
a particular data center may decrease if either (a) the power requirements of customers at a data center change so that all or a portion of the remaining space can no longer be sold as the space does not have enough power capacity and/or common
infrastructure to support it without further investment or (b) if the design and layout of a data center changes to meet among others, fire regulations or customer requirements, and necessitates the introduction of common space (such as
corridors) which cannot be sold to individual customers;
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | Revenue Generating Space is defined as the amount of Equipped Space that is under contract and billed on the relevant date;
| | - |  | ---------------------------------------------------------------------------------------------------------------------------



| |  |  | Utilization Rate: on the relevant date, Revenue Generating Space as a percentage of Equipped Space. Some Equipped Space is not fully utilized due to customers specific requirements regarding the layout of their
equipment. In practice, therefore, Utilization Rate does not reach 100%;
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | Recurring Revenue Percentage: Recurring Revenue during the relevant period as a percentage of total revenue in the same period. Recurring Revenue comprises revenue that is incurred from colocation and associated power
charges, office space, amortized set-up fees and certain recurring managed services (but excluding any ad hoc managed services) provided by us directly or through third parties. Rents received for the sublease of unused sites are excluded. Monthly
Recurring Revenue is the contracted Recurring Revenue over a full month excluding energy usage revenues, amortized set-up fees and the sub-leasing of office space; and
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | Average Monthly Churn: the average of the Churn Percentage in each month of the relevant period. Churn Percentage in a month is the contracted Monthly Recurring Revenue which came to an end during the month as a
percentage of the total contracted Monthly Recurring Revenue at the beginning of the month.
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

EBITDA, Adjusted EBITDA,
Adjusted EBITDA margin, Recurring Revenue and Average Monthly Churn are all non-GAAP measures. Together with the other key performance indicators listed above, they serve as additional indicators of our operating performance and are not required by,
or presented in accordance with, IFRS. They are not intended as a replacement for,



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or alternatives to, measures such as cash flows from operating activities and operating profit as defined and required under IFRS. We believe that EBITDA, Adjusted EBITDA, Adjusted EBITDA margin
and our other key performance indicators are measures commonly used by analysts, investors and peers in our industry. We have, therefore, disclosed this information to permit a more complete analysis of our operating performance. EBITDA, Adjusted
EBITDA, Adjusted EBITDA margin and our other key performance indicators, as we calculate them, may not be comparable to similarly titled measures reported by other companies. For a reconciliation of EBITDA and Adjusted EBITDA to operating
profit/(loss), see Operating and Financial Review and ProspectsEBITDA and Adjusted EBITDA. EBITDA, Adjusted EBITDA, Adjusted EBITDA margin and our other key performance indicators listed above may not be indicative of our
historical results of operations, nor are they meant to be predictive of future results.

Currency Presentation and Convenience Translations

Unless otherwise indicated, all references in this annual report to euro or  are to the currency introduced at
the start of the third stage of the European Economic and Monetary Union pursuant to the Treaty establishing the European Community, as amended. All references to dollars, $, U.S. $ or U.S. dollars are
to the lawful currency of the United States. We prepare our financial statements in euro.

Solely for convenience, this annual report
contains translation of certain euro amounts into U.S. dollars based on the noon buying rate of 1.00 to U.S. $ 1.2101 in The City of New York for cable transfers of euro as certified for customs purposes by the Federal Reserve Bank of New York
as of December 31, 2014. These translation rates should not be construed as representations that the euro amounts have been, could have been or could be converted into U.S. dollars at that or any other rate. See Exchange Rate
Information.

Metric Convenience Conversion

This annual report contains certain metric measurements and for your convenience, we provide the conversion of metric units into U.S. customary
units. The standard conversion relevant for this annual report is approximately 1 meter = 3.281 feet or 1 square meter = 10.764 square feet.

Rounding

Certain financial data in this annual report, including financial, statistical and operating information have been subject to rounding
adjustment. Accordingly, in certain instances, the sum of the numbers in a column or a row in tables contained in this annual report may not conform exactly to the total figure given for that column or row. Percentages in tables have been rounded
and accordingly may not add up to 100%.

No Incorporation of Website Information

The contents of our website do not form part of this annual report.

Terminology

The terms the
Group, we, our and us refer to InterXion Holding N.V. (the Company) and its subsidiaries, as the context requires.

MARKET, ECONOMIC AND INDUSTRY DATA

Information regarding markets, market size, market share, market position, growth rates and other industry data pertaining to our business
contained in this annual report consists of estimates based on data and reports compiled by professional organizations and analysts, on data from other external sources, and on our knowledge of our sales and markets. In many cases, there is no
readily available external information (whether from trade associations, government bodies or other organizations) to validate market-related analyses and estimates, requiring us to rely on internally developed estimates. While we have compiled,
extracted and reproduced market or other industry data from external sources which we believe to be reliable, including third parties or industry or general publications, we have not independently verified that data. Similarly, our internal
estimates have not been verified by any independent sources.



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Forward-Looking Statements

This annual report on Form 20-F contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to all statements other than statements of historical fact regarding our business, financial condition, results of operations and certain of our plans,
objectives, assumptions, projections, expectations or beliefs with respect to these items and statements regarding other future events or prospects. These statements include, without limitation, those concerning: our strategy and our ability to
achieve it; expectations regarding sales, profitability and growth; plans for the construction of new data centers; our possible or assumed future results of operations; research and development, capital expenditure and investment plans; adequacy of
capital; financing plans; and our proposed business combination with TelecityGroup plc (TelecityGroup). The words aim, may, will, expect, anticipate, believe,
future, continue, help, estimate, plan, schedule, intend, should, shall or the negative or other variations thereof as well as other
statements regarding matters that are not historical fact, are or may constitute forward-looking statements.

In addition, this annual
report includes forward-looking statements relating to our potential exposure to various types of market risks, such as foreign exchange rate risk, interest rate risks and other risks related to financial assets and liabilities. We have based these
forward-looking statements on our managements current view with respect to future events and financial performance. These views reflect the best judgment of our management but involve a number of risks and uncertainties which could cause
actual results to differ materially from those predicted in our forward-looking statements and from past results, performance or achievements. Although we believe that the estimates reflected in the forward-looking statements are reasonable, those
estimates may prove to be incorrect. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause
actual results and developments to differ materially from these expressed or implied by these forward-looking statements. These factors include, among other things:



| |  |  | operating expenses cannot be easily reduced in the short term;
| | - |  | --------------------------------------------------------------



| |  |  | inability to utilize the capacity of newly planned data centers and data center expansions;
| | - |  | -------------------------------------------------------------------------------------------



| |  |  | significant competition;
| | - |  | ------------------------



| |  |  | cost and supply of electrical power;
| | - |  | ------------------------------------



| |  |  | data center industry over-capacity; and
| | - |  | ---------------------------------------



| |  |  | performance under service level agreements.
| | - |  | -------------------------------------------

These risks and others described under Risk
Factors are not exhaustive. Other sections of this annual report describe additional factors that could adversely affect our business, financial condition or results of operations. We urge you to read the sections of this annual report
entitled Item 3 Key InformationRisk Factors, Item 4 Information on the Company and Item 5 Operating and Financial Review and Prospects for a more complete discussion of the factors that
could affect our future performance and the industry in which we operate. Additionally, new risk factors can emerge from time to time, and it is not possible for us to predict all such risk factors, nor can we assess the impact of all such risk
factors to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. In addition and as a
result of these risks and uncertainties, there can be no assurance that our previously disclosed proposed business combination will be completed in a timely manner, or at all.

All forward-looking statements included in this annual report are based on information available to us on the date of this annual report. We
undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law. All subsequent written and oral forward-looking
statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained throughout this annual report.



3



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TABLE OF CONTENTS



|         |  |                                                                                       |  |      |     | 
|-------- |  | ------------------------------------------------------------------------------------- |  | ---- | --- | 
|         |  |                                                                                       |  | Page |    
|PART I   |  |                                                                                       |  |      |     | 
|         |  |                                                                                      
|         |  | ITEM 1: IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS                         |  |      | 5   | 
|         |  |                                                                                      
|         |  | ITEM 2: OFFER STATISTICS AND EXPECTED TIMETABLE                                       |  |      | 6   | 
|         |  |                                                                                      
|         |  | ITEM 3: KEY INFORMATION                                                               |  |      | 7   | 
|         |  |                                                                                      
|         |  | ITEM 4: INFORMATION ON THE COMPANY                                                    |  |      | 28  | 
|         |  |                                                                                      
|         |  | ITEM 4A: UNRESOLVED STAFF COMMENTS                                                    |  |      | 37  | 
|         |  |                                                                                      
|         |  | ITEM 5: OPERATING AND FINANCIAL REVIEW AND PROSPECTS                                  |  |      | 38  | 
|         |  |                                                                                      
|         |  | ITEM 6: DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES                                    |  |      | 58  | 
|         |  |                                                                                      
|         |  | ITEM 7: MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS                             |  |      | 66  | 
|         |  |                                                                                      
|         |  | ITEM 8: FINANCIAL INFORMATION                                                         |  |      | 70  | 
|         |  |                                                                                      
|         |  | ITEM 9: THE OFFER AND LISTING                                                         |  |      | 71  | 
|         |  |                                                                                      
|         |  | ITEM 10: ADDITIONAL INFORMATION                                                       |  |      | 72  | 
|         |  |                                                                                      
|         |  | ITEM 11: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK                   |  |      | 88  | 
|         |  |                                                                                      
|         |  | ITEM 12: DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES                       |  |      | 89  | 
|         |  |                                                                                      
|PART II  |  |                                                                                       |  |      |     | 
|         |  |                                                                                      
|         |  | ITEM 13: DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES                              |  |      | 90  | 
|         |  |                                                                                      
|         |  | ITEM 14: MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS |  |      | 91  | 
|         |  |                                                                                      
|         |  | ITEM 15: CONTROLS AND PROCEDURES                                                      |  |      | 92  | 
|         |  |                                                                                      
|         |  | ITEM 16A: AUDIT COMMITTEE FINANCIAL EXPERT                                            |  |      | 93  | 
|         |  |                                                                                      
|         |  | ITEM 16B: CODE OF ETHICS                                                              |  |      | 94  | 
|         |  |                                                                                      
|         |  | ITEM 16C: PRINCIPAL ACCOUNTANT FEES AND SERVICES                                      |  |      | 95  | 
|         |  |                                                                                      
|         |  | ITEM 16D: EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES                  |  |      | 96  | 
|         |  |                                                                                      
|         |  | ITEM 16E: PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS      |  |      | 97  | 
|         |  |                                                                                      
|         |  | ITEM 16F: CHANGE IN REGISTRANTS CERTIFYING ACCOUNTANT                                |  |      | 98  | 
|         |  |                                                                                      
|         |  | ITEM 16G: CORPORATE GOVERNANCE                                                        |  |      | 99  | 
|         |  |                                                                                      
|         |  | ITEM 16H: MINE SAFETY DISCLOSUE                                                       |  |      | 100 | 
|         |  |                                                                                      
|PART III |  |                                                                                       |  |      |     | 
|         |  |                                                                                      
|         |  | ITEM 17: FINANCIAL STATEMENTS                                                         |  |      | 101 | 
|         |  |                                                                                      
|         |  | ITEM 18: FINANCIAL STATEMENTS                                                         |  |      | 102 | 
|         |  |                                                                                      
|         |  | ITEM 19: EXHIBITS                                                                     |  |      | 103 | 



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PART I

ITEM 1: IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS

For the identity of Directors and Senior Management reference is made to Item 6: Directors, Senior Management and Employees.
Identification of Advisors is not applicable for this Form 20-F.



5



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ITEM 2: OFFER STATISTICS AND EXPECTED TIMETABLE

Not applicable.



6



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ITEM 3: KEY INFORMATION

Selected Historical Consolidated Financial Data

The following selected financial data as of and for the years ended December 31, 2014, 2013 and 2012 have been derived from our audited
consolidated financial statements, which are included elsewhere in this annual report. The selected financial data as of and for the years ended December 31, 2011 and December 31, 2010 have been derived from our audited consolidated
financial statements not included in this annual report. Our audited consolidated financial statements included in this annual report have been prepared and presented in accordance with IFRS as issued by the International Accounting Standards Board
and have been audited by KPMG Accountants N.V., an independent registered public accounting firm.

You should read the selected financial
data in conjunction with our consolidated financial statements and related notes and Item 5 Operating and Financial Review and Prospects included elsewhere in this annual report. Our historical results do not necessarily indicate
our expected results for any future periods.



|                                                                        |  |                                                                          |          |   |                                                                     |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |         |  
|----------------------------------------------------------------------- |  | ------------------------------------------------------------------------ | -------- | - | ------------------------------------------------------------------- |  | -------- | ---- |  |  | -------- | - |  | ---- | -------- | - | ---- |  | -------- | - |  |  | ------- | -
|                                                                        |  | Year ended December 31,                                                  |          |   | Year ended December 31,                                             | 
|                                                                        |  | 2014(1)                                                                  |          |   | 2014                                                                |  |          | 2013 |  |  | 2012     |   |  | 2011 |          |   | 2010 | 
|                                                                        |  | (U.S. $000, except per
share amounts and
number of shares in
thousands) |          |   | (000, except per share amounts and number of
shares in thousands) | 
|Income statement data                                                   |  |                                                                          |          |   |                                                                     |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |         |  
|Revenue                                                                 |  |                                                                          | 412,189  |   |                                                                     |  | 340,624  |      |  |  | 307,111  |   |  |      | 277,121  |   |      |  | 244,310  |   |  |  | 208,379 |  
|Cost of sales                                                           |  |                                                                          | (168,295 | ) |                                                                     |  | (139,075 | )    |  |  | (124,141 | ) |  |      | (113,082 | ) |      |  | (101,766 | ) |  |  | (91,154 | )
|                                                                        |  |                                                                          |          |   |                                                                     |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |         |  
|Gross profit                                                            |  |                                                                          | 243,894  |   |                                                                     |  | 201,549  |      |  |  | 182,970  |   |  |      | 164,039  |   |      |  | 142,544  |   |  |  | 117,225 |  
|Other income                                                            |  |                                                                          | 328      |   |                                                                     |  | 271      |      |  |  | 341      |   |  |      | 463      |   |      |  | 487      |   |  |  | 425     |  
|Sales and marketing costs                                               |  |                                                                          | (29,709  | ) |                                                                     |  | (24,551  | )    |  |  | (22,818  | ) |  |      | (20,100  | ) |      |  | (17,680  | ) |  |  | (15,072 | )
|General and administrative costs                                        |  |                                                                          | (119,659 | ) |                                                                     |  | (98,884  | )    |  |  | (90,134  | ) |  |      | (79,243  | ) |      |  | (67,258  | ) |  |  | (55,892 | )
|                                                                        |  |                                                                          |          |   |                                                                     |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |         |  
|Operating profit                                                        |  |                                                                          | 94,854   |   |                                                                     |  | 78,385   |      |  |  | 70,359   |   |  |      | 65,159   |   |      |  | 58,093   |   |  |  | 46,686  |  
|Net finance expense                                                     |  |                                                                          | (33,733  | ) |                                                                     |  | (27,876  | )    |  |  | (57,453  | ) |  |      | (17,746  | ) |      |  | (22,784  | ) |  |  | (29,444 | )
|                                                                        |  |                                                                          |          |   |                                                                     |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |         |  
|Profit before taxation                                                  |  |                                                                          | 61,121   |   |                                                                     |  | 50,509   |      |  |  | 12,906   |   |  |      | 47,413   |   |      |  | 35,309   |   |  |  | 17,242  |  
|Income tax (expense) / income                                           |  |                                                                          | (18,695  | ) |                                                                     |  | (15,449  | )    |  |  | (6,082   | ) |  |      | (15,782  | ) |      |  | (9,737   | ) |  |  | (2,560  | )
|                                                                        |  |                                                                          |          |   |                                                                     |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |         |  
|Profit for the year attributable to shareholders                        |  |                                                                          | 42,426   |   |                                                                     |  | 35,060   |      |  |  | 6,824    |   |  |      | 31,631   |   |      |  | 25,572   |   |  |  | 14,682  |  
|                                                                        |  |                                                                          |          |   |                                                                     |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |         |  
|Basic earnings per share(2)                                             |  |                                                                          | 0.61     |   |                                                                     |  | 0.51     |      |  |  | 0.10     |   |  |      | 0.47     |   |      |  | 0.40     |   |  |  | 0.33    |  
|                                                                        |  |                                                                          |          |   |                                                                     |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |         |  
|Diluted earnings per share(2)                                           |  |                                                                          | 0.61     |   |                                                                     |  | 0.50     |      |  |  | 0.10     |   |  |      | 0.46     |   |      |  | 0.39     |   |  |  | 0.31    |  
|                                                                        |  |                                                                          |          |   |                                                                     |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |         |  
|Number of shares(2) (3)                                                 |  |                                                                          | 69,317   |   |                                                                     |  | 69,317   |      |  |  | 68,867   |   |  |      | 68,176   |   |      |  | 66,129   |   |  |  | 44,354  |  
|                                                                        |  |                                                                          |          |   |                                                                     |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |         |  
|Weighted average number of shares for Basic earnings per share(2) (4)   |  |                                                                          | 69,048   |   |                                                                     |  | 69,048   |      |  |  | 68,584   |   |  |      | 67,309   |   |      |  | 64,176   |   |  |  | 44,352  |  
|                                                                        |  |                                                                          |          |   |                                                                     |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |         |  
|Weighted average number of shares for Diluted earnings per share(2) (4) |  |                                                                          | 69,922   |   |                                                                     |  | 69,922   |      |  |  | 69,345   |   |  |      | 68,262   |   |      |  | 65,896   |   |  |  | 47,707  |  
|                                                                        |  |                                                                          |          |   |                                                                     |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |         |  



|                                              |  |                                                                         |          |   |                                                                     |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |          |  
|--------------------------------------------- |  | ----------------------------------------------------------------------- | -------- | - | ------------------------------------------------------------------- |  | -------- | ---- |  |  | -------- | - |  | ---- | -------- | - | ---- |  | -------- | - |  |  | -------- | -
|                                              |  | Year ended December 31,                                                 |          |   | Year ended December 31,                                             | 
|                                              |  | 2014(1)                                                                 |          |   | 2014                                                                |  |          | 2013 |  |  | 2012     |   |  | 2011 |          |   | 2010 | 
|                                              |  | U.S. $000, except per
share amounts and
number of shares in
thousands) |          |   | (000, except per share amounts and number of
shares in thousands) | 
|Cash flow statement data                      |  |                                                                         |          |   |                                                                     |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |          |  
|Net cash flows from operating activities      |  |                                                                         | 126,356  |   |                                                                     |  | 104,418  |      |  |  | 72,563   |   |  |      | 89,082   |   |      |  | 64,043   |   |  |  | 74,379   |  
|Net cash flows from investing activities      |  |                                                                         | (263,714 | ) |                                                                     |  | (217,927 | )    |  |  | (143,381 | ) |  |      | (179,105 | ) |      |  | (161,011 | ) |  |  | (100,164 | )
|Net cash flows from financing activities      |  |                                                                         | 202,846  |   |                                                                     |  | 167,628  |      |  |  | 47,911   |   |  |      | 15,883   |   |      |  | 140,330  |   |  |  | 92,748   |  
|Capital expenditures including intangibles(5) |  |                                                                         | (261,717 | ) |                                                                     |  | (216,277 | )    |  |  | (143,381 | ) |  |      | (178,331 | ) |      |  | (161,956 | ) |  |  | (100,394 | )



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|                                           |  |                         |           |  |                         |  |           |      |  |  |         |  |  |      |         |  |      |  |         |  |  |  |         | 
|------------------------------------------ |  | ----------------------- | --------- |  | ----------------------- |  | --------- | ---- |  |  | ------- |  |  | ---- | ------- |  | ---- |  | ------- |  |  |  | ------- | 
|                                           |  | Year ended December 31, |           |  | Year ended December 31, | 
|                                           |  | 2014(1)                 |           |  | 2014                    |  |           | 2013 |  |  | 2012    |  |  | 2011 |         |  | 2010 | 
|                                           |  | (U.S. $000)            |           |  | (000)                 | 
|Balance sheet data                         |  |                         |           |  |                         |  |           |      |  |  |         | 
|Trade and other current assets             |  |                         | 148,131   |  |                         |  | 122,412   |      |  |  | 96,703  |  |  |      | 74,854  |  |      |  | 67,874  |  |  |  | 55,672  | 
|Cash and cash equivalents(6)               |  |                         | 120,917   |  |                         |  | 99,923    |      |  |  | 45,690  |  |  |      | 68,692  |  |      |  | 142,669 |  |  |  | 99,115  | 
|                                           |  |                         |           |  |                         |  |           |      |  |  |         |  |  |      |         |  |      |  |         |  |  |  |         | 
|Current assets                             |  |                         | 269,048   |  |                         |  | 222,335   |      |  |  | 142,393 |  |  |      | 143,546 |  |      |  | 210,543 |  |  |  | 154,787 | 
|Non-current assets                         |  |                         | 1,150,523 |  |                         |  | 950,768   |      |  |  | 768,382 |  |  |      | 675,678 |  |      |  | 533,738 |  |  |  | 391,975 | 
|Total assets                               |  |                         | 1,419,571 |  |                         |  | 1,173,103 |      |  |  | 910,775 |  |  |      | 819,224 |  |      |  | 744,281 |  |  |  | 546,762 | 
|                                           |  |                         |           |  |                         |  |           |      |  |  |         |  |  |      |         |  |      |  |         |  |  |  |         | 
|Current liabilities                        |  |                         | 212,610   |  |                         |  | 175,697   |      |  |  | 140,125 |  |  |      | 134,109 |  |      |  | 133,799 |  |  |  | 112,375 | 
|Non-current liabilities                    |  |                         | 679,182   |  |                         |  | 561,261   |      |  |  | 382,748 |  |  |      | 309,541 |  |      |  | 279,921 |  |  |  | 279,118 | 
|                                           |  |                         |           |  |                         |  |           |      |  |  |         |  |  |      |         |  |      |  |         |  |  |  |         | 
|Total liabilities                          |  |                         | 891,792   |  |                         |  | 736,958   |      |  |  | 522,873 |  |  |      | 443,650 |  |      |  | 413,720 |  |  |  | 391,493 | 
|Shareholders equity                       |  |                         | 527,779   |  |                         |  | 436,145   |      |  |  | 387,902 |  |  |      | 375,574 |  |      |  | 330,561 |  |  |  | 155,269 | 
|Total liabilities and shareholders equity |  |                         | 1,419,571 |  |                         |  | 1,173,103 |      |  |  | 910,775 |  |  |      | 819,224 |  |      |  | 744,281 |  |  |  | 546,762 | 
|                                           |  |                         |           |  |                         |  |           |      |  |  |         |  |  |      |         |  |      |  |         |  |  |  |         | 



Notes:

|(1) | The Income statement data, Cash flow statement data and Balance sheet data as of and for the year ended December 31, 2014 have been translated for convenience only based on the
noon buying rate in The City of New York for cable transfers of euro as certified for customs purposes by the Federal Reserve Bank of New York as of December 31, 2014 for euros into U.S. dollars of 1.00 = U.S. $1.2101. See Exchange
Rate Information for additional information.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(2) | Basic earnings per share, Diluted earnings per share and Number of shares have been adjusted to reflect the five-to-one reverse stock split, which occurred in conjunction with our
initial public offering in January 2011.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(3) | Number of shares is in thousands as of the end of the year.
|--- | -------------------------------------------------------------

|(4) | Weighted average number of shares for Basic earnings per share and Weighted average number of shares for Diluted earnings per share are in thousands.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------

|(5) | Capital expenditures including intangible assets, represent payments to acquire property, plant & equipment and intangible assets as recorded on our consolidated statement of cash flows as Purchase of
property, plant and equipment and Purchase of intangible assets respectively.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(6) | Cash and cash equivalents includes 5.3 million, 4.1 million, 5.0 million, 4.8 million and 4.2 million as of December 31, 2014, December 31,
2013, December 31, 2012, December 31, 2011 and December 31, 2010, respectively, which is restricted and held as collateral to support the issuance of bank guarantees on behalf of a number of subsidiary companies.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Exchange Rate Information

We publish our financial statements in euro. The conversion of euro into U.S. dollars in this annual report is solely for the convenience of
readers. The exchange rates of euro into U.S. dollars are based on the noon buying rate in The City of New York for cable transfers of euro as certified for customs purposes by the Federal Reserve Bank of New York. Unless otherwise noted, all
translations from euro to U.S. dollars and from U.S. dollars to euro in this annual report were made at a rate of 1.00 to U.S. $ 1.2101, the noon buying rate in effect as of December 31, 2014. We make no representation that any euro or
U.S. dollar amounts could have been, or could be, converted into U.S. dollars or euro, as the case may be, at any particular rate, the rates stated below, or at all.



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The following table sets forth information concerning exchange rates between the euro and the
U.S. dollar for the periods indicated.



|                                    |  |                    |        |  |      |  |        | 
|----------------------------------- |  | ------------------ | ------ |  | ---- |  | ------ | 
|                                    |  | Low                |        |  | High | 
|                                    |  | (U.S. $ per 1.00) |       
|Month:                              |  |                    |        |  |      |  |        | 
|September 2014                      |  |                    | 1.2628 |  |      |  | 1.3136 | 
|October 2014                        |  |                    | 1.2517 |  |      |  | 1.2812 | 
|November 2014                       |  |                    | 1.2394 |  |      |  | 1.2554 | 
|December 2014                       |  |                    | 1.2101 |  |      |  | 1.2504 | 
|January 2015                        |  |                    | 1.1279 |  |      |  | 1.2015 | 
|February 2015                       |  |                    | 1.1197 |  |      |  | 1.1462 | 
|March 2015                          |  |                    | 1.0524 |  |      |  | 1.1212 | 
|April 2015 (through April 17, 2015) |  |                    | 1.0582 |  |      |  | 1.1008 | 



|                         |  |                      |        | 
|------------------------ |  | -------------------- | ------ | 
|                         |  | Average forPeriod(1) |       
|                         |  | (U.S. $ per
1.00)   |       
|Year ended December 31,: |  |                      |        | 
|2010                     |  |                      | 1.3211 | 
|2011                     |  |                      | 1.4002 | 
|2012                     |  |                      | 1.2909 | 
|2013                     |  |                      | 1.3303 | 
|2014                     |  |                      | 1.3210 | 



Source:
Federal Reserve Bank of New York

Note:



|(1) | Annual averages are calculated from month-end exchange rates by using the average of the exchange rates on the last day of each month during the year.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------

On April 17, 2015, the noon buying rate was 1.00 to U.S. $1.0780.



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Risk Factors

In addition to the other information contained in this annual report on Form 20-F, you should carefully consider the following risk
factors. If any of the possible events described below occurs, our business, financial condition, results of operations or prospects could be adversely affected. The risks and uncertainties below are those known to us and that we currently believe
may materially affect us.

Risks Related to our Business

Our operations may suffer from the effects of (i) business uncertainties resulting from the announcement of the proposed transaction
with TelecityGroup plc, (ii) contractual restrictions on our activities during the period in which we are subject to the terms of the Implementation Agreement (as defined below), and (iii) costs associated with the proposed transaction.

On March 9, 2015, we entered into an implementation agreement and plan of reorganization (the Implementation
Agreement) with TelecityGroup plc (TelecityGroup) to effect an all-share merger of Interxion by TelecityGroup. The Implementation Agreement outlines the offer by TelecityGroup to acquire our shares at a rate of 2.3386 TelecityGroup
shares per Interxion Holding N.V. share. The Implementation Agreement details, among other things, the mechanics of TelecityGroups offer and the respective offer period, certain conditions to the proposed transaction (including relevant
regulatory approvals) and other obligations of the parties. Uncertainty about the effect of the proposed transaction on our employees, customers, and other parties may have an adverse effect on our business. Such uncertainty may impair our ability
to attract, retain, and motivate key personnel, including our executive leadership, and could cause customers, suppliers, financial counterparties, and others to seek to change existing business relationships with us. The Implementation Agreement
restricts us from, among other things, making certain acquisitions and investments, from accessing the debt and equity capital markets, and from taking other specified actions until the proposed transaction occurs or the Implementation Agreement
terminates. The restrictions may prevent us from pursuing otherwise attractive business opportunities and taking other actions with respect to our business that we may consider advantageous. We have incurred, and will continue to incur, significant
costs, expenses, and fees for professional services and other transaction costs in connection with the proposed transaction, which may not be recoverable even if the transaction is not completed.

The market price for our shares has been volatile due to the announcement of the proposed transaction and may continue to be volatile until
the transaction is consummated. If the proposed transaction does not close or the Implementation Agreement is terminated for some reason, the market price for our shares may drop.

We cannot easily reduce our operating expenses in the short term, which could have a material adverse effect on our business in the
event of a slowdown in demand for our services or a decrease in revenue for any reason.

Our operating expenses primarily consist
of personnel, power and property costs. Personnel and property costs cannot be easily reduced in the short term. Therefore, we are unlikely to be able to reduce significantly our expenses in response to a slowdown in demand for our services or any
decrease in revenue. The terms of our leases with landlords for facilities that serve as data centers are typically for a minimum period of 10 to 15 years (excluding our extension options) and do not provide us with an early termination right, while
our colocation contracts with customers are initially typically for only three to five years. As of December 31, 2014, 45% of our Monthly Recurring Revenue was generated by contracts with terms of one year or less remaining. Our personnel costs
are fixed due to our contracts with our employees having set notice periods and local law limitations in relation to the termination of employment contracts. In respect of our power costs, there is a minimum level of power required to keep our data
centers running irrespective of the number of customers using them so our power costs may exceed the amount of revenue derived from power. We could have higher than expected levels of unused capacity in our data centers if, among other things:



| |  |  | our existing customers contracts are not renewed and those customers are not replaced by new customers;
| | - |  | -------------------------------------------------------------------------------------------------------



| |  |  | internet and telecommunications equipment becomes smaller and more compact in the future;
| | - |  | -----------------------------------------------------------------------------------------



| |  |  | there is an unexpected slowdown in demand for our services; or
| | - |  | --------------------------------------------------------------



| |  |  | we are unable to terminate or amend our leases when we have underutilized space at a data center.
| | - |  | -------------------------------------------------------------------------------------------------

If we have higher than expected levels of unused space at a data center at any given time, we may be required to operate a data center at a
loss for a period of time. If we have higher than expected levels of unused capacity in our data centers and we are unable to reduce our expenses accordingly, our business, financial condition and results of operations would be materially adversely
affected.



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Our inability to utilize the capacity of newly planned data centers and data center
expansions in line with our business plan would have a material adverse effect on our business, financial condition and results of operations.

Historically, we have made significant investments in our property, plant and equipment and intangible assets in order to expand our data
center footprint and total Equipped Space as we have grown our business. In the year ended December 31, 2014 we invested 216.3 million in property, plant and equipment (213.0 million) and intangible assets (3.3 million).
In the year ended December 31, 2013 we invested 143.4 million in property, plant and equipment (140.3 million) and intangible assets (3.1 million). Investments in property, plant and equipment includes expansion, upgrade,
maintenance and general administrative IT equipment. Investments in intangible assets include power grid rights and software development.

We expect to continue to invest as we expand our data center footprint and increase our Equipped Space based on demand in our target markets.
Our total annual investment in property, plant and equipment includes maintenance and replacement capital expenditures. Although in any one year the amount of maintenance and replacement capital expenditures may vary, we expect that such expenses
will be between 3% and 5% of total revenue in the long term. We hold title to the AMS3, AMS6, BRU1, CPH2, FRA8, MRS1, PAR3 and PAR5 properties, and we have exercised the options and agreed to purchase the PAR7 freehold land on which we own the PAR7
data center, and the AMS7 and VIE freehold land and properties. As of December 31, 2014, the AMS7, PAR7 and VIE land and properties are reported as financial leases. In January 2015, we completed the acquisition of the VIE properties, and
terminated the VIE financial lease. The VIE properties will continue to be reported as assets in future periods. The PAR7 and AMS7 properties are currently reported as financial leases, and they will be reported as such until the acquisitions
complete. We also lease space for data centers and typically begin construction before entering into contractual agreements with customers to utilize the capacity of our data centers under construction. In some cases, we enter into lease agreements
for data centers or begin expansions at our existing data centers without any pre-existing customer commitments to use the additional space that will be created. If we open a new data center or complete an expansion at an existing data center, we
will be required to pay substantial up-front and ongoing costs associated with that data center, including leasehold improvements, basic overhead costs and rental payments regardless of whether or not we have any agreements with customers to fill
the space.

As a result of our expansion plans, we will incur capital expenditures, and as a result, an increase in other operating
expenses, which will negatively impact our cash flow, and depreciation that together will negatively impact our profitability unless and until these new and expanded data centers generate enough revenue to exceed their operating costs and related
capital expenditures.

There can be no guarantee that we will be able to sustain or increase our profitability if our planned expansion is
not successful or if there is not sufficient customer demand in the future to realize expected returns on these investments. Any such development would have a material adverse effect on our business, financial condition and results of operations.

If we are unable to expand our existing data centers or locate and secure suitable sites for additional data centers on
commercially acceptable terms our ability to grow our business may be limited.

Our ability to meet the growing needs of our
existing customers and to attract new customers depends on our ability to add capacity by expanding existing data centers or by locating and securing suitable sites for additional data centers that meet our specifications, such as proximity to
numerous network service providers, access to a significant supply of electrical power and the ability to sustain heavy floor loading. We have reached high utilization levels at some of our data centers and therefore any increase in these locations
would need to be accomplished through the lease of additional property that satisfies our requirements. Property meeting our specifications may be scarce in our target markets. If we are unable to identify and enter into leases on commercially
acceptable terms on a timely basis for any reason including due to competition from other companies seeking similar sites who may have greater financial resources than us, or are unable to expand our space in our current data centers, our rate of
growth may be substantially impaired.

Our capital expenditures, together with ongoing operating expenses and obligations to service our
debt, will be a drain on our cash flow and may decrease our cash balances. The capital markets in the recent past have been and may again become limited for external financing opportunities. Additional debt or equity financing, especially in the
current credit-constrained climate, may not be available when needed or, if available, may not be available on satisfactory terms. Our inability to obtain needed debt and/or equity financing or to generate sufficient cash from operations may require
us to prioritize projects or curtail capital expenditures which could adversely affect our results of operations.



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Failure to renew or maintain real estate leases for our existing data centers on
commercially acceptable terms, or at all, could harm our business.

We hold title to the AMS3, AMS6, BRU1, CPH2, FRA8, MRS1, PAR3
and PAR5 properties, and we have exercised the options and agreed to purchase the PAR7 freehold land on which we own the PAR7 data center, and the AMS7 and VIE freehold land and properties. As of December 31, 2014, the AMS7, PAR7 and VIE
properties are reported as financial leases. In January 2015, we completed the acquisition of the VIE properties, and terminated the VIE financial lease. The VIE properties will continue to be reported as assets in future periods. The PAR7 and AMS7
properties are currently reported as financial leases, and they will be reported as such until the acquisitions complete. For the leased properties on which our data centers are located, we generally enter into leases for initial minimum periods of
10 to 15 years (excluding renewal options). Including renewal options, the lease properties are generally secured for terms of 20 to 25 years. The majority of our leases are subject to an annual inflation-linked increase in rent and, on renewal (or
earlier in some cases), the rent we pay may be reset to the current market rate. There is, therefore, a risk that there will be significant rent increases when the rent is reviewed. Our leases in France, Ireland and the United Kingdom do not contain
contractual options to renew or extend those leases, and we have used or may in the future use such options in other leases. With respect to our operating leases in France, certain landlords may terminate our operating leases following the
expiration of the original lease period (being 12 years from the commencement date), and the other leases in France may be terminated by the landlords at the end of each three year period upon giving six months prior notice in the event the landlord
wishes to carry out construction works to the building. The non-renewal of leases for our existing data center locations, or the renewal of such leases on less favorable terms, is a potentially significant risk to our ongoing operations. We would
incur significant costs if we were forced to vacate one of our data centers due to the high costs of relocating our own and our customers equipment, installing the necessary infrastructure in a new data center and, as required by most of our
leases, reinstating the vacated data center to its original state. In addition, if we were forced to vacate a data center, we could lose customers that chose our services based on location. If we fail to renew any of our leases, or the renewal of
any of our leases is on less favorable terms and we fail to increase revenues sufficiently to offset the higher rental costs, this could have a material adverse effect on our business, financial condition and results of operations.

Our leases may obligate us to make payments beyond our use of the property.

Our leases generally do not give us the right to terminate without penalty. Accordingly, we may incur costs under leases of data center space
that is not or no longer is Revenue Generating Space. Some of our leases do not give us the right to sublet, and even if we have that right we may not be able to sublet the space on favorable terms or at all. We have incurred moderate costs in
relation to such onerous lease contracts in recent years.

We may experience unforeseen delays and expenses when fitting out and
upgrading data centers, and the costs could be greater than anticipated.

As we attempt to grow our business, substantial
management effort and financial resources are employed by us in fitting out new, and upgrading existing, data centers. In addition, we periodically upgrade and replace certain equipment at our data centers. We may experience unforeseen delays and
expenses in connection with a particular client project or data center build-out. In addition, unexpected technological changes could affect customer requirements and we may not have built such requirements into our data centers and may not have
budgeted for the financial resources necessary to build out or redesign the space to meet such new requirements. Furthermore, the redesign of existing space is difficult to implement in practice as it normally requires moving existing customers.
Although we have budgeted for expected build-out and equipment expenses, additional expenses in the event of unforeseen delays, cost overruns, unanticipated expenses, regulatory changes, unexpected technological changes and increases in the price of
equipment may negatively affect our business, financial condition and results of operations.

No assurance can be given that we will
complete the build-out of new data centers or expansions of existing data centers within the proposed timeframe and cost parameters or at all. Any such failure could have a material adverse effect on our business, financial condition and results of
operations.

We may incur non-cash impairment charges to our assets, in particular to our property, plant and equipment, which could
result in a reduction to our earnings.

In accordance with IFRS, we periodically monitor the remaining net book values of our
investments, intangible assets and our property, plant and equipment (based on cash generating units) for indications of a material change in balance sheet carrying value, particularly indications of any impairments. It is possible that one or more
data centers could begin to under-perform relative to our expectations due to changes in customer requirements or regulatory changes affecting the efficient operation of the data center which may then also result in a non-cash impairment charge. In
addition, capitalized data center development costs



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may also be subject to impairment due to events or changes in circumstances, such as changing market conditions or any changes in key assumptions, which result in delaying or terminating a data
center development project giving rise to a non-cash impairment charge.

We face significant competition and we may not be able to
compete successfully against current and future competitors.

Our market is highly competitive. Most companies operate their own
data centers and in many cases continue to invest in data center capacity, although there is a trend towards outsourcing. We compete against other carrier and cloud-neutral colocation data center service providers, such as Equinix, TelecityGroup
(until the proposed transaction is consummated) and Telehouse. We also compete with other types of data centers, including carrier-operated colocation, wholesale and IT outsourcers and managed services provider data centers. The cost, operational
risk and inconvenience involved in relocating a customers networking and computing equipment to another data center are significant and have the effect of protecting a competitors data center from significant levels of customer churn.

Further, the growth of the European data center market has encouraged new, larger companies to consider entering the market, in
particular those from the United States who are active in this sector. This growth and other factors have also led to increasing alliances and consolidation. Many of these companies may have significantly greater financial, marketing and other
resources than we do. Some of our competitors may be willing to, and due to greater financial resources, may be better able to adopt aggressive pricing policies, including the provision of discounted data center services as an encouragement for
customers to utilize their other services. Certain of our competitors may also provide our target customers with additional benefits, including bundled communications services, and may do so in a manner that is more attractive to potential customers
than obtaining space in our data centers.

In addition, corporations that have already invested substantial resources in in-house data
center operations may be reluctant to outsource these services to a third party, or may choose to acquire space within a wholesale providers data center, which would allow them to manage the equipment themselves. If existing customers were to
conclude that they could provide the same service in-house at a lower cost, with greater reliability, with increased security or for other reasons, they might move such services in-house and we would lose customers and business.

We may also see increased competition for data center space and customers from wholesale data center providers, such as large real estate
companies. Rather than leasing available space to large single tenants, real estate companies, including certain of our landlords, may decide to convert the space instead to smaller square meter units designed for multitenant colocation use. In
addition to the risk of losing customers to wholesale data center providers, this could also reduce the amount of space available to us for expansion in the future. As a result of such competition, we could suffer from downward pricing pressure and
the loss of customers (and potential customers), which would have a material adverse effect on our business, financial condition and results of operations.

Our services may have a long sales cycle that may materially adversely affect our business, financial condition and results of
operations.

A customers decision to take space in one of our data centers typically involves a significant commitment of
resources by us and by potential customers, who often require internal approvals. In addition, some customers will be reluctant to commit to locating in our data centers until they are confident that the data center has adequate available carrier
connections and network density. As a result, we may have a long sales cycle lasting anywhere from three months for smaller customers to periods in excess of one year for some of our larger customers. Furthermore, we may expend significant time and
resources in pursuing a particular sale or customer that does not result in revenue.

The slowdown in global economies and their delayed
recovery may further impact this long sales cycle by making it extremely difficult for customers to accurately forecast and plan future business activities. This could cause customers to slow spending, or delay decision-making, on our services,
which would delay and lengthen our sales cycle.

Delays due to the length of our sales cycle may have a material adverse effect on our
business, financial condition and results of operations.



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Our business is dependent on the adequate supply of electrical power and could be harmed by
prolonged electrical power outages or increases in the cost of power.

The operation of each of our data centers requires an
extremely large amount of power and we are among the largest power consumers in certain cities in which we operate data centers. We cannot be certain that there will be adequate power in all of the locations in which we operate, or intend to open
additional data centers. We attempt to limit exposure to system downtime caused by power outages by using back-up generators and uninterrupted power supply systems; however, we may not be able to limit our exposure entirely even with these
protections in place. We also cannot guarantee that the generators will always provide sufficient power or restore power in time to avoid loss of or damage to our customers and our equipment. Any loss of services or damage to equipment
resulting from a temporary loss of or reduction in power at any of our data centers could harm our customers, reduce customers confidence in our services, impair our ability to attract new customers and retain existing customers, and result in
us incurring financial obligations to our customers as they might be eligible for service credits pursuant to their service level agreements with us. Our customers may also seek damages from us.

In addition, we are susceptible to fluctuations in power costs in all of the locations in which we operate. Clients have two options with
respect to power usage. They can either (i) pay for power usage in plugs in advance (typically included in the total cabinet price), which are contractually defined amounts of power per month, for which the customer must pay in
full, regardless of how much power is actually used; or (ii) pay for their actual power usage in arrears on a metered basis. While we are contractually able to recover power cost increases from our customers, some portion of the increased costs
may not be recovered or recovered in a delayed fashion based on commercial reasons and as a result, may have a negative impact on our results of operations.

Although we have not experienced any power outages that have had a material impact on our financial condition in the past, power outages or
increases in the cost of power to us could have a material adverse effect on our business, financial condition and results of operations.

A general lack of electrical power resources sufficient to meet our customers demands may impair our ability to utilize fully the
available space at our existing data centers or our plans to open new data centers.

In each of our markets, we rely on third
parties to provide a sufficient amount of power for current and future customers. Power and cooling requirements are generally growing on a per customer basis. Some of our customers are increasing and may continue to increase their use of
high-density electrical power equipment, such as blade servers, which can significantly increase the demand for power per customer and cooling requirements for our data centers. Future demand for electrical power and cooling may exceed the designed
electrical power and cooling infrastructure in our data centers. As the electrical power infrastructure is typically one of the most important limiting factors in our data centers, our ability to utilize available space fully may be limited. This,
as well as any inability to secure sufficient power resources from third-party providers, could have a negative impact on the effective available capacity of a given data center and limit our ability to grow our business.

The ability to increase the power capacity or power infrastructure of a data center, should we decide to, is dependent on several factors
including, but not limited to, the local utilitys ability and willingness to provide additional power, the length of time required to provide that power and/or whether it is feasible to upgrade the electrical infrastructure and cooling systems
of a data center to deliver additional power to customers.

The availability of sufficient power may also pose a risk to the successful
development of future data centers. In cities where we intend to open new data centers, we may face delays in obtaining sufficient power to operate our data centers. Our ability to secure adequate power sources will depend on several factors,
including whether the local power supply is at or close to its limit, whether new connections for our data center would require the local power company to install a new substation or feeder and whether new connections for our data center would
increase the overall risks of blackouts or power outages in a given geographic area.

If we are unable to utilize fully the physical space
available within our data centers or successfully develop additional data centers or expand existing data centers due to restrictions on available electrical power or cooling, we may be unable to accept new customers or increase the services
provided to existing customers, which may have a material adverse effect on our business, results of operations and financial condition.

A significant percentage of our Monthly Recurring Revenue is generated by contracts with terms of one year or less remaining. If those
contracts are not renewed, or if their pricing terms are negotiated downwards, our business, financial condition and results of operations would be materially adversely affected.

The majority of our initial customer contracts are entered into on a fixed term basis for periods from three to five years, which, unless
terminated in advance, are automatically renewed for subsequent one-year periods. Please see Item 4 Information on the CompanyCustomer Contracts. As of December 31, 2014, 45% of our Monthly Recurring Revenue was generated
by



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contracts with terms of one year or less remaining. Consequently, a large part of our customer base could either terminate their contracts with us at relatively short notice, or seek to
re-negotiate the pricing of such contracts downwards, which, if either were to occur, would have a material adverse effect on our business, financial condition and results of operations.

Our inability to use all or part of our net deferred tax assets could cause us to pay taxes at an earlier date and in greater amounts
than expected.

As of December 31, 2014, we had 23.0 million of recognized net deferred tax assets and
0.8 million of unrecognized net deferred tax assets. We cannot assure you that we will generate sufficient profit in the relevant jurisdictions to utilize these deferred tax assets fully or that the tax loss availability will not expire
before we have been able to fully utilize them. In addition, applicable law could change in one or more jurisdictions in which we have deferred tax assets, rendering such assets unusable. Either such event would cause us to pay taxes in greater
amounts than would otherwise occur, which may have a material adverse effect on our results of operations.

Our operating results
have fluctuated in the past and may fluctuate in the future, which may make it difficult to evaluate our business and prospects.

Our operating results have fluctuated in the past and may continue to fluctuate in the future, due to a variety of factors, which include:



| |  |  | the announcement of our proposed transaction with TelecityGroup, and news regarding developments prior to the consummation of the transaction, including news regarding regulatory approval of the transaction, completion
of the transaction or termination of the Implementation Agreement and more broadly, the proposed transaction;
| | - |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | demand for our services;
| | - |  | ------------------------



| |  |  | competition from other data center operators;
| | - |  | ---------------------------------------------



| |  |  | the cost and availability of power;
| | - |  | -----------------------------------



| |  |  | the introduction of new services by us and/or our competitors;
| | - |  | --------------------------------------------------------------



| |  |  | data center expansion by us and/or our competitors;
| | - |  | ---------------------------------------------------



| |  |  | changes in our pricing policies and those of our competitors;
| | - |  | -------------------------------------------------------------



| |  |  | a change in our customer retention rates;
| | - |  | -----------------------------------------



| |  |  | economic conditions affecting the Internet, telecommunications and e-commerce industries; and
| | - |  | ---------------------------------------------------------------------------------------------



| |  |  | changes in general economic conditions.
| | - |  | ---------------------------------------

Any of the foregoing factors, or other factors
discussed elsewhere in this annual report, could have a material adverse effect on our business, results of operations and financial condition. Although we have experienced growth in revenues during the past three financial years, this growth rate
is not necessarily indicative of future operating results. In addition, a relatively large portion of our expenses cannot be reduced in the short-term, particularly personnel and property costs and part of our power costs, which means that our
results of operations are particularly sensitive to fluctuations in revenues. As such, comparisons to prior reporting periods should not be relied upon as indications of our future performance. In addition, our operating results in one or more
future periods may fail to meet the expectations of securities analysts or investors. If this happens, the market price of our ordinary shares may decline significantly.

We are dependent on third-party suppliers for equipment, technology and other services.

We contract with third parties for the supply of equipment (including generators, UPS systems and cabinet equipment) on which we are dependent
to operate our business. Poor performance by, or any inability of, our suppliers to provide necessary equipment, products, services and maintenance could have a negative effect on our reputation and harm our business.

We depend on the ongoing service of our personnel and senior management team and may not be able to attract, train and retain a
sufficient number of qualified personnel to maintain and grow our business.

Our success depends upon our ability to attract,
retain and motivate highly-skilled employees, including the data center personnel who are integral to the establishment and running of our data centers, as well as sales and marketing personnel who play a large role in attracting and retaining
customers. Due to several factors, including the rapid growth of the Internet, there is aggressive competition for experienced data center employees. We compete intensely with other companies to recruit and hire



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from this limited pool. In addition, the training of new employees requires a large amount of our time and resources. If we cannot attract, train and retain qualified personnel, we may be unable
to expand our business in line with our strategy, compete for new customers or retain existing customers, which could cause our business, financial condition and results of operations to suffer.

Our future performance also depends to a significant degree upon the continued contributions of our senior management team. The loss of any
member of our senior management team could significantly harm us. To the extent that the services of members of our senior management team would be unavailable to us for any reason, we would be required to hire other personnel to manage and operate
our Company. There can be no assurance that we would be able to locate or employ such personnel on acceptable terms or on a timely basis.

Our failure to maintain competitive compensation packages, including equity incentives, may be disruptive to our business. If one or more of
our key personnel resigns from our Company to join or form a competitor, the loss of such personnel and any resulting loss of existing or potential customers to any such competitor could harm our business, financial condition and results of
operations. In addition, we may be unable to prevent the unauthorized disclosure or use of our technical knowledge, practices or procedures by departed personnel.

Disruptions to our physical infrastructure could lead to significant costs, reduce our revenues and harm our business reputation and
financial results.

Our business depends on providing customers with highly reliable and secure services. A number of factors may
disrupt our ability to provide services to our customers, including:



| |  |  | human error;
| | - |  | ------------



| |  |  | power loss;
| | - |  | -----------



| |  |  | physical or electronic security breaches;
| | - |  | -----------------------------------------



| |  |  | terrorist acts;
| | - |  | ---------------



| |  |  | interruptions to the fiber network;
| | - |  | -----------------------------------



| |  |  | hardware and software defects;
| | - |  | ------------------------------



| |  |  | fire, earthquake, flood and other natural disasters;
| | - |  | ----------------------------------------------------



| |  |  | improper maintenance by our landlords; and
| | - |  | ------------------------------------------



| |  |  | sabotage and vandalism.
| | - |  | -----------------------

The occurrence of any of the foregoing could have a material adverse
effect on our business, results of operations and financial condition. Disruptions at one or more of our data centers, whether or not within our control, could result in service interruptions or significant equipment damage, leading to significant
costs and revenue reductions. Please see Risks Related to our IndustryTerrorist activity throughout the world and military action to counter terrorism could adversely impact our business.

Our insurance may not be adequate to cover all losses.

The insurance we maintain covers material damage to property, business interruption and third-party liability. This insurance contains
limitations on the total coverage for damage due to catastrophic events, such as flooding or terrorism. In addition, there is an overall cap on our general insurance coverage per data center in any one year. There is, therefore, a risk that if one
or more data centers were damaged, the total amount of the loss would not be recoverable by us.

Also, our insurance policies include
customary exclusions, deductibles and other conditions that could limit our ability to recover losses. In addition, some of our policies are subject to limitations involving co-payments and policy limits that may not be sufficient to cover losses.
If we experience a loss that is uninsured or that exceeds policy limits, or if customers consider that there is a significant risk that such an event will occur, this may negatively affect our reputation, business, financial condition and results of
operations.



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Our failure to meet the performance standards under our service level agreements may
subject us to liability to our customers, which could have a material adverse effect on our reputation, business, financial condition or results of operations.

We have service level agreements with substantially all of our customers in which we provide various guarantees regarding our level of service.
Our inability to provide services consistent with these guarantees may lead to large losses for our customers, who consequently may be entitled to service credits for their accounts or to terminate their relationship with us. We have issued service
credits to customers in the past due to our failure to meet service level commitments and we may do so in the future. We cannot be sure that our customers will accept these service credits as compensation in the future. Our failure or inability to
meet a customers expectations or any deficiency in the services we provide to customers could result in a claim against us for substantial damages. Provisions contained in our agreements with customers attempting to limit damages, including
provisions to limit liability for damages, may not be enforceable in all instances or may otherwise fail to protect us for liability damages.

We could be subject to costs, as well as claims, litigation or other potential liability, in connection with risks associated with the
security of our data centers.

One of our key service offerings is our high level of physical premises security. Many of our
customers entrust their key strategic IT services and applications to us due, in part, to the level of security we offer. If anyone is able to breach our security, they could physically damage our and our customers equipment and/or
misappropriate either our proprietary information or the information of our customers or cause interruptions or malfunctions in our operations.

There can be no assurance that the security of any of our data centers will not be breached or the equipment and information of our customers
put at risk. Any security breach could have a serious effect on our reputation and could prevent new customers from choosing our services and lead to customers terminating their contracts early and seeking to recover losses suffered, which could
have a material adverse effect on our business, financial condition and results of operations. We may incur significant additional costs to protect against physical premises security breaches or to alleviate problems caused by such breaches.

We face risks relating to foreign currency exchange rate fluctuations.

Our reporting currency for purposes of our financial statements is the euro. We also, however, earn revenues and incur operating costs in
non-euro denominated currencies, such as British pounds, Swiss francs, Danish kroner, Swedish kronor and US dollars. We recognize foreign currency gains or losses arising from our operations in the period incurred. As a result, currency fluctuations
between the euro and the non-euro currencies in which we do business will cause us to incur foreign currency translation gains and losses. We cannot predict the effects of exchange rate fluctuations upon our future operating results because of the
number of currencies involved, the variability of currency exposure and the potential volatility of currency exchange rates. We do not currently engage in foreign exchange hedging transactions to manage the risk of our foreign currency exposure.

The slowdown in global economies and their delayed recovery may have an impact on our business and financial condition in ways that
we cannot currently predict.

The European debt crisis and slowdown and delayed recovery in the global financial markets could
continue to have an adverse effect on our business and our financial condition. If the market conditions continue to remain weak or uncertain, some of our customers may have difficulty paying us and we may experience increased churn in our customer
base. Our sales cycle could also lengthen as customers slow spending, or delay decision-making, on our services, which could adversely affect our revenue growth. Finally, we could also experience pricing pressure as a result of economic conditions
if our competitors lower prices and attempt to lure away our customers.

Additionally, our ability to access the capital markets may be
severely restricted at a time when we would like, or need, to do so, which could have an impact on our ability to pursue additional expansion opportunities and maintain our desired level of revenue growth in the future.

Acquisitions, business combinations and other transactions present many risks, and we may not realize the financial or strategic goals
that were contemplated at the time of any transaction and such transactions may alter our financial or strategic goals.

We have
evaluated, and expect to continue to evaluate, potential strategic combinations (including the proposed transaction with TelecityGroup) and acquisitions and other transactions. We may enter into transactions like these at any time, or discussions
concerning such transactions, which may include combinations with other companies or businesses, acquisitions of us by third parties, including potential strategic and financial acquirers and acquisitions by us of businesses, products, services or
technologies that we believe to be complementary. These potential transactions, including the proposed transaction with TelecityGroup, expose us to several potential risks, including:



| |  |  | the possible disruption of our ongoing business and diversion of managements attention by acquisition, transition and integration activities and/or entering into discussions that do not result in a transaction;
| | - |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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| |  |  | our potential inability to successfully pursue or realize some or all of the anticipated revenue opportunities associated with an acquisition or investment;
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility that we may not be able to successfully integrate acquired businesses, or businesses in which we invest, or achieve anticipated operating efficiencies or cost savings;
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility that announced acquisitions or business combinations may not be completed, due to failure to satisfy the conditions to closing or for other reasons;
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the dilution of our existing stockholders as a result of any such transaction that involves the issuance of stock;
| | - |  | ------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility of customer dissatisfaction if we are unable to achieve levels of quality and stability on par with past practices or with respect to any business combination with a new party;
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility that additional capital expenditures may be required or that transaction expenses associated with acquisitions may be higher than anticipated;
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility that required financing to fund the requirements of a transaction may not be available on acceptable terms or at all;
| | - |  | -------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility that governmental approvals under antitrust and competition laws required to complete a transaction may not be obtained on a timely basis or at all, which could, among other things, delay or prevent the
completion of a transaction, or limit the ability to realize the expected financial or strategic benefits of a transaction or have other adverse effects on our current business and operations;
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility of loss or reduction in value of acquired businesses;
| | - |  | ---------------------------------------------------------------------



| |  |  | the possibility that carriers may find it cost-prohibitive or impractical to bring fiber and networks into a new data center;
| | - |  | -----------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility of litigation or other claims in connection with or as a result of a transaction including claims from terminated employees, customers, former or current stockholders or other third parties;
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility of pre-existing undisclosed liabilities, including but not limited to lease or landlord related liability, environmental or asbestos liability, for which insurance coverage may be insufficient or
unavailable; and
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility there will not be sufficient customer demand to realize expected returns on these transactions.
| | - |  | ---------------------------------------------------------------------------------------------------------------

We may pay for future acquisitions by using our existing cash resources (which may limit other potential uses of our cash), incurring
additional debt (which may increase our interest expense, leverage and debt service requirements) and/or issuing shares (which may dilute our existing stockholders and have a negative effect on our earnings per share). The occurrence of any of these
risks could have a material adverse effect on our business, results of operations, financial condition or cash flows.

We focus on
the development of communities of interest within customer segments and the attraction of magnetic customers. Our failure to attract, grow and retain these communities of interest could harm our business and operating results.

Our ability to maximize revenue growth depends on our ability to develop and grow communities of interest within our target customer segments
such as network providers, cloud and managed service providers, financial services, enterprises and digital media and distribution. Within each community, there are certain customers, which we consider to be magnetic customers as we believe they
make it attractive to other customers to be in our data centers. Our ability to attract magnetic customers to our data centers will depend on a variety of factors, including the presence of multiple carriers, the mix of our offerings, the overall
mix of customers, the presence of other magnetic customers, the data centers operating reliability and security and our ability to effectively market our offerings. We may not be able to attract magnetic customers and thus be unsuccessful in
the development of our communities of interest. This may hinder the development, growth and retention of customer communities of interest and adversely affect our business, financial condition and results of operations.

Consolidation may have a negative impact on our business model.

If customers combine businesses, they may require less colocation space, which could lead to churn in our customer base. Competitors in some of
our markets may also consolidate, which can make it more difficult for us to compete. Consolidation of our customers and/or our competitors may present a risk to our business model and have a negative impact on our revenues.



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Our operations are highly dependent on the proper functioning of our information technology
systems. We are in the process of upgrading our information technology systems. The failure or unavailability of such systems during or after the upgrade process could result in the loss of existing or potential customers and harm our reputation,
business and operating results.

We rely heavily on our information technology and back office systems to conduct our business,
including for purposes of providing customer fee quotes and maintaining accurate customer service and billings records. Commencing in 2012, we began a significant project to overhaul our back office systems that support the customer experience, from
initial quote to customer billing, including those used to generate and provide fee quotes to existing and potential customers. Our operating companies migrated their respective systems to our new contract lifecycle management system. The upgrade of
our back office systems is ongoing and we expect the upgrade process to continue through 2015.

Difficulties with our systems may
interrupt our ability to accept and deliver customer orders and impact our overall financial operations, including our accounts payable, accounts receivables, general ledger, close processes, internal financial controls, and our ability to otherwise
run and track our business. We may need to expend significant attention, time and resources to correct problems or find alternative sources for performing these functions. As a result of any significant investments in ongoing upgrades or any future
upgrades or modifications, we may be unable to devote adequate financial and other resources to remedy any such delay or technical difficulty in an efficient manner.

Any disruption to our information technology and back office systems, whether caused by upgrade projects or otherwise, may adversely affect
our business and operating results.

Substantial indebtedness could adversely affect our financial condition and our ability to
operate our business, and we may not be able to generate sufficient cash flows to meet our debt service obligations

We have a
significant amount of debt and may incur additional debt to support our growth. As of December 31, 2014, our total indebtedness was approximately 561.6 million, our stockholders equity was 436.1 million and our cash
and cash equivalents totaled 99.9 million. Our substantial amount of debt could have important consequences. For example, it could:



| |  |  | make it more difficult for us to satisfy our debt obligations;
| | - |  | --------------------------------------------------------------



| |  |  | restrict us from making strategic acquisitions;
| | - |  | -----------------------------------------------



| |  |  | limit our flexibility in planning for, or reacting to, changes in our business and future business opportunities, thereby placing us at a competitive disadvantage if our competitors are not as highly leveraged;
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | increase our vulnerability to general adverse economic and industry conditions; or
| | - |  | ----------------------------------------------------------------------------------



| |  |  | require us to dedicate a substantial portion of our cash flow from operations to make interest and principal payments on our debt, reducing the availability of our cash flow to fund future capital expenditures, working
capital, execution of our expansion strategy and other general corporate requirements;
| | - |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | limit our ability to borrow additional funds, even when necessary to maintain adequate liquidity, which would also limit our ability to further expand our business; and
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | make us more vulnerable to increases in interest rates because of the variable interest rates on some of our borrowings to the extent we have not entirely hedged such variable rate debt.
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The occurrence of any of the foregoing factors could have a material adverse effect on our business, results of operations and financial
condition.

We require a significant amount of cash to service our debt, which may limit available cash to fund working capital and
capital expenditures. Our ability to generate sufficient cash depends on many factors beyond our control.

Our ability to make
payments on and to refinance our debt, and to fund working capital and capital expenditures, will depend on our future operating performance and ability to generate sufficient cash. This depends, to some extent, on general economic, financial,
competitive, market, legislative, regulatory and other factors, many of which are beyond our control, as well as the other factors discussed in these Risk Factors.

We cannot assure you that our business will generate sufficient cash flows from operations or that future debt and equity financing will be
available to us in an amount sufficient to enable us to pay our debts when due, including our outstanding 475.0 million 6.00% Senior Secured Notes (the Senior Secured Notes), or to fund our other liquidity needs. See
Item 5 Operating and Financial Review and Prospects.



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If our future cash flows from operations and other capital resources (including borrowings under
our 100.0 million revolving facility (the Revolving Facility) are insufficient to pay our obligations as they mature or to fund our liquidity needs, we may be forced to:



| |  |  | reduce or delay our business activities and capital expenditures;
| | - |  | -----------------------------------------------------------------



| |  |  | sell assets;
| | - |  | ------------



| |  |  | obtain additional debt or equity capital; or
| | - |  | --------------------------------------------



| |  |  | restructure or refinance all or a portion of our debt, including the Senior Secured Notes, on or before maturity.
| | - |  | -----------------------------------------------------------------------------------------------------------------

We cannot assure you that we would be able to accomplish any of these alternatives on a timely basis or on satisfactory terms, if at all. In
addition, the terms or our debt, including the Revolving Facility and the Senior Secured Notes, will limit, and any future debt may limit, our ability to pursue any of these alternatives.

We may need to refinance our outstanding debt

We may need to refinance a portion of our outstanding debt as it matures, such as mortgages with quarterly repayment schedules, our PAR7
finance lease obligation due in 2019 and the Senior Secured Notes. We may also need to finance the repurchase of all or a portion of the Senior Secured Notes upon the occurrence of a change of control (as defined in the indenture for the Senior
Secured Notes) in connection with the proposed transaction with TelecityGroup. There is a risk that we may not be able to refinance existing debt or that the terms of any refinancing may not be as favorable as the terms of our existing debt.
Furthermore, if prevailing interest rates or other factors at the time of refinancing result in higher interest rates upon refinancing, then the interest expense relating to that refinanced indebtedness would increase. These risks could materially
adversely affect our financial condition, cash flows and results of operations

If we increase our indebtedness by borrowing under the
Revolving Facility or incur other new indebtedness, the risks described above would increase.

We are subject to significant
restrictive debt covenants, which limit our operating flexibility.

Our Revolving Facility and the Indenture (as defined below)
governing the Senior Secured Notes contain covenants which impose significant restrictions on the way we and our subsidiaries operate, including but not limited to, restrictions on the ability to:



| |  |  | create certain liens;
| | - |  | ---------------------



| |  |  | incur debt and/or guarantees;
| | - |  | -----------------------------



| |  |  | enter into transactions other than on arms-length basis;
| | - |  | ---------------------------------------------------------



| |  |  | pay dividends or make certain distributions or payments;
| | - |  | --------------------------------------------------------



| |  |  | engage, in relation to the Company, in any business activity or own assets or incur liabilities not authorized by the agreement governing the Revolving Facility (the Revolving Facility Agreement);
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | sell certain kinds of assets;
| | - |  | -----------------------------



| |  |  | impair any security interest on the assets serving as collateral for the Senior Secured Notes;
| | - |  | ----------------------------------------------------------------------------------------------



| |  |  | enter into any sale and leaseback transactions;
| | - |  | -----------------------------------------------



| |  |  | make certain investments or other types of restricted payments;
| | - |  | ---------------------------------------------------------------



| |  |  | substantially change the nature of the Companys or the Groups business;
| | - |  | -------------------------------------------------------------------------



| |  |  | designate unrestricted subsidiaries; and
| | - |  | ----------------------------------------



| |  |  | effect mergers, consolidations or sale of assets.
| | - |  | -------------------------------------------------

These covenants could limit our ability to
finance our future operations and capital needs and our ability to pursue acquisitions and other business activities that may be in our interest.



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Our Revolving Facility also requires us to maintain a specified financial ratio. The restrictive
covenants are subject to customary exceptions including, in relation to the incurrence of additional debt, a consolidated fixed charge ratio (calculated as a ratio of adjusted EBITDA to consolidated interest expense) to exceed 2.00 to 1.00 on a pro
forma basis for the four full fiscal quarters (taken as one period) for which financial statements are available immediately preceding the incurrence of such debt and, if such debt is senior debt, a consolidated senior leverage ratio (calculated as
a ratio of outstanding senior debt of the Company and its restricted subsidiaries (on a consolidated basis) to pro forma adjusted EBITDA) to be less than 4.00 to 1.00 on a pro forma basis for the four full fiscal quarters (taken as one period) for
which financial statements are available immediately preceding the incurrence of such debt. The Revolving Facility Agreement also includes a leverage ratio financial covenant (tested on a quarterly basis) requiring total net debt (calculated as a
ratio to pro forma EBITDA) not to exceed a leverage ratio of 4.00 to 1.00. In addition, the Company must ensure, under the Revolving Facility Agreement, that the guarantors represent a certain percentage of adjusted EBITDA of the Group as a whole
and a certain percentage of the consolidated net assets of the Group as a whole. Our ability to meet these covenants may be affected by events beyond our control and, as a result, we cannot assure you that we will be able to meet the covenants. In
the event of a default under our Revolving Facility, the lenders could terminate their commitments and declare all amounts owed to them to be due and payable. Borrowings under other debt instruments that contain cross acceleration or cross default
provisions, including the Senior Secured Notes, may as a result also be accelerated and become due and payable. We may be unable to pay these debts in such circumstances or to the extent we pay such debts, we may not have sufficient cash to fund our
working capital expenditure needs.

Risks Related to our Industry

The European data center industry has suffered from over-capacity in the past, and a substantial increase in the supply of new data
center capacity and/or a general decrease in demand for data center services could have an adverse impact on industry pricing and profit margins.

The European data center industry has previously suffered from overcapacity. For example, certain Internet-based customers have previously
contracted to use more space than necessary to meet their needs and in the periods following adverse market conditions, the number of Internet-related business failures increased significantly, resulting in high levels of customer churn due to the
termination or non-renewal of contracts.

A substantial increase in the supply of new data center capacity in the European data center
market and/or a general decrease in demand, or in the rate of increase in demand, for data center services could have an adverse impact on industry pricing and profit margins. If there is insufficient customer demand for data center services, our
business, financial condition and operating results would be adversely affected.

If we do not keep pace with technological changes,
evolving industry standards and customer requirements, our competitive position will suffer.

The Internet and telecommunications
industries are characterized by rapidly changing technology, evolving industry standards and changing customer needs. Accordingly, our future success will depend, in part, on our ability to meet the challenge of these changes. Among the most
important challenges that we may face are the need to: continue to develop our strategic and technical expertise, influence and respond to emerging industry standards and other technological changes, enhance our current services and develop new
services that meet changing customer needs.

All of these challenges must be met in a timely and cost-effective manner. Some of our
competitors may have greater financial resources, which would allow them to react better or more quickly to changes than we may be able to. We may not effectively meet these challenges as rapidly as our competitors or at all and our failure to do so
could harm our business.

Terrorist activity throughout the world and military action to counter terrorism could adversely impact
our business.

Due to the high volume of important data that passes through data centers, there is a real risk that terrorists
seeking to damage financial and technological infrastructure view data centers generally, and those in concentrated areas specifically, as potential targets. These factors may increase our costs due to the need to provide enhanced security, which
would have a material adverse effect on our business, financial condition and results of operations if we are unable to pass such costs on to our customers. These circumstances may also adversely affect the ability of companies, including us, to
raise capital. We may not have adequate property and liability insurance to cover terrorist attacks.

In addition, we depend heavily on
the physical infrastructure (particularly as it relates to power) that exists in the markets in which we operate. Any damage to such infrastructure, particularly in the major European markets such as Amsterdam, Frankfurt, London and Paris, where we
derive a substantial amount of our revenue and which are likely to be more prone to terrorist activities, may materially and adversely affect our business.



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Our carrier neutral business model depends on the presence of numerous telecommunications
carrier networks in our data centers.

The presence of diverse telecommunications carriers fiber networks in our data centers
is critical to our ability to retain and attract new customers. We are not a telecommunications carrier and as such we rely on third parties to provide our non-carrier customers with carrier services. We cannot assure you that the carriers operating
within our data centers will not cease to do so. For example, as a result of strategic decisions or consolidations, some carriers may decide to downsize or terminate connectivity within our data centers, which could have an adverse effect on our
business, financial condition and results of operations.

We may be subject to reputational damage and legal action in connection
with the information disseminated by our customers.

We may face potential direct and indirect liability for claims of defamation,
negligence, copyright, patent or trademark infringement and other claims, as well as reputational damage, based on the nature and content of the materials disseminated from our data centers, including on the grounds of allegations of the illegality
of certain activities carried out by customers through their equipment located in our data centers. For example, lawsuits may be brought against us claiming that content distributed by our customers may be regulated or banned. Our general liability
insurance may not cover any such claim or may not be adequate to protect us against all liability that may be imposed. In addition, on a limited number of occasions in the past, businesses, organizations and individuals have sent unsolicited
commercial emails (spam), which may be viewed as offensive by recipients, from servers hosted at our data centers to a number of people, typically to advertise products or services. We have in the past received, and may in the future
receive, letters from recipients of information transmitted by our customers objecting to spam. Although our contracts with our customers prohibit them from spamming, there can be no assurance that customers will not engage in this practice, which
could subject us to claims for damages, damage our reputation and have a material adverse effect on our business.

Risks Related to Regulation

Laws and government regulations governing Internet-related services, related communication services and information technology and
electronic commerce, across the European countries in which we operate, continue to evolve and, depending on the evolution of such regulations, may adversely affect our business.

Laws and governmental regulations governing Internet-related services, related communications services and information technology and
electronic commerce continue to evolve. This is true across the various European countries in which we operate. In particular, the laws regarding privacy and those regarding gambling and other activities that certain countries deem illegal are
continuing to evolve.

Changes in laws or regulations (or the interpretation of such laws or regulations) or national or EU policy
affecting our activities and/or those of our customers and competitors, including regulation of prices and interconnection arrangements, regulation of access arrangements to types of infrastructure, regulation of privacy requirements through the
protection of personal data and regulation of activity considered illegal through rules affecting data center and managed service providers could materially adversely affect our results by decreasing revenue, increasing costs or impairing our
ability to offer services.

We and the industry in which we operate are subject to environmental and health and safety laws and
regulations and may be subject to more stringent efficiency, environmental and health and safety laws and regulations in the future, including with respect to energy consumption and greenhouse gas emissions.

We are subject to various environmental and health and safety laws and regulations, including those relating to the generation, storage,
handling and disposal of hazardous substances and technological equipment, the maintenance of warehouse facilities and the generation and use of electricity. Certain of these laws and regulations are capable of imposing liability for the entire cost
of the investigation and remediation of contaminated sites or buildings containing hazardous materials such as asbestos, without regard to fault or the lawfulness of the activity causing the contamination, on current and former owners and occupiers
of real property and persons who have disposed of or released hazardous substances at any location. Compliance with these laws and regulations could impose substantial ongoing compliance costs and operating restrictions on us.



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Hazardous substances or regulated materials of which we are not aware may be present at data
centers leased and operated by us. If any such contaminants are discovered at our data centers, we may be responsible under applicable laws, regulations or leases for any required removal or clean-up or other action at substantial cost.

Our facilities contain tanks and other containers for the storage of diesel fuel and significant quantities of lead acid batteries to provide
back-up power. We cannot guarantee that our environmental compliance program will be able to prevent leaks or spills in these or other technical installations.

In addition, due to our high levels of energy consumption, we may incur substantial costs purchasing allowances under the CRC Energy
Efficiency Scheme and/or in connection with upgrading our data centers to improve the energy efficiency of our operations. This could have an adverse effect on our business, financial condition and results of operations.

Non-compliance with, or liabilities under, existing or future environmental or health and safety laws and regulations, including failure to
hold requisite permits, or the adoption of more stringent requirements in the future, could result in fines, penalties, third-party claims and other costs that could have a material adverse effect on us.

Our data centers may also be adversely affected by any future application of additional regulation relating to energy usage, for example,
seeking to reduce the power consumption of companies and fees or levies related thereto.

Changes in Dutch or foreign tax laws and
regulations, or interpretations thereof may adversely affect our financial position.

We are a Dutch company with European
subsidiaries and are subject to income tax in The Netherlands and foreign income tax in the countries we conduct operations, including The Netherlands, France, Germany and the UK. Significant judgment is required in determining our worldwide tax
liabilities and obligations. Although we believe that we have adequately assessed and accounted for our potential tax liabilities, and that our tax estimates including our transfer pricing estimates are reasonable, there can be no certainty that
additional taxes will not be due upon an audit of our tax returns or as a result of changes to applicable tax laws and interpretations thereof. In addition, several of the governments in which we conduct operations, including The Netherlands,
France, Germany and the UK, are actively considering changes to their respective taxation regimes, which may impact the recognition and taxation of worldwide income. The nature and timing of any amendments to tax laws of the jurisdictions in which
we operate and the impact on our future tax liabilities cannot be predicted with any certainty, however any such amendments or changes could materially and adversely impact our results of operations and financial position including cash flows. In
the years ended December 31, 2013 and 2012, we were adversely impacted by a one-time crisis wage tax in The Netherlands. This tax was introduced as a one-time crisis wage tax, however, we were subject to this tax again in the year
ended December 31, 2013. In the year ended December 31, 2014, this crisis wage tax was no longer collected by the Dutch government.

Laws and government regulations governing the licenses or permits we need across the European countries in which we operate may change,
which can adversely affect our business.

We operate data centers and other facilities in 11 countries and as a result of our
international operations, we are subject to risks related to the differing legal, political, social and regulatory requirements and economic conditions of many jurisdictions. General economic, political, or social conditions in the countries in
which we operate could have an adverse effect on our revenues from operations in those countries. In addition, we may be unable to obtain, renew or retain licenses or permits for our operations, data centers and other facilities for legal,
environmental or regulatory reasons.

In February 2015, we received notification from local Madrid municipal authorities that we lack
certain required certificates of data center occupation and operation at our data centers in Madrid (MAD 1 and MAD 2). We have obtained the certificates for the MAD 1 data center, and we have made good progress obtaining these certificates for the
MAD 2 data center. Although we expect to obtain these certificates in due course, there can be no assurance that we will obtain the requisite certificates in a timely fashion, which could result in the temporary cessation of our operations at our
MAD 2 data center.



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Risks Related to Our Ordinary Shares

The market price for our ordinary shares may continue to be volatile.

From January 1, 2014 to December 31, 2014, the closing sale price of our common stock on the New York Stock Exchange (the
NYSE) ranged from $22.39 to $29.70 per share. The market price for our shares is likely to be highly volatile and subject to wide fluctuations in response to factors including, but not limited to, the following:



| |  |  | the announcement of our proposed transaction with TelecityGroup, and news regarding developments prior to the consummation of the transaction, including news regarding regulatory approval of the transaction, completion
of the transaction or termination of the Implementation Agreement and more broadly, the proposed transaction;
| | - |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | announcements of new products and services by us or our competitors;
| | - |  | --------------------------------------------------------------------



| |  |  | technological breakthroughs in the data center, networking or computing industries;
| | - |  | -----------------------------------------------------------------------------------



| |  |  | news regarding any gain or loss of customers by us;
| | - |  | ---------------------------------------------------



| |  |  | news regarding recruitment or loss of key personnel by us or our competitors;
| | - |  | -----------------------------------------------------------------------------



| |  |  | announcements of competitive developments, acquisitions or strategic alliances in our industry;
| | - |  | -----------------------------------------------------------------------------------------------



| |  |  | changes in the general condition of the global economy and financial markets;
| | - |  | -----------------------------------------------------------------------------



| |  |  | general market conditions or other developments affecting us or our industry;
| | - |  | -----------------------------------------------------------------------------



| |  |  | the operating and stock price performance of other companies, other industries and other events or factors beyond our control;
| | - |  | ------------------------------------------------------------------------------------------------------------------------------



| |  |  | cost and availability of power and cooling capacity;
| | - |  | ----------------------------------------------------



| |  |  | cost and availability of additional space inventory either through lease or acquisition in our target markets;
| | - |  | --------------------------------------------------------------------------------------------------------------



| |  |  | regulatory developments in our target markets affecting us, our customers or our competitors;
| | - |  | ---------------------------------------------------------------------------------------------



| |  |  | changes in demand for interconnection and colocation products and services in general or at our facilities in particular;
| | - |  | -------------------------------------------------------------------------------------------------------------------------



| |  |  | actual or anticipated fluctuations in our quarterly results of operations;
| | - |  | --------------------------------------------------------------------------



| |  |  | changes in financial projections or estimates about our financial or operational performance by securities research analysts;
| | - |  | -----------------------------------------------------------------------------------------------------------------------------



| |  |  | changes in the economic performance or market valuations of other data center companies;
| | - |  | ----------------------------------------------------------------------------------------



| |  |  | release or expiry of lock-up or other transfer restrictions on our outstanding ordinary shares; and
| | - |  | ---------------------------------------------------------------------------------------------------



| |  |  | sales or perceived sales of additional ordinary shares.
| | - |  | -------------------------------------------------------

In addition, the securities market
has from time to time experienced significant price and volume fluctuations that are not related to the operating performance of particular companies. These market fluctuations may also have a material adverse effect on the market price of our
ordinary shares.

A substantial portion of our total outstanding ordinary shares may be sold into the market at any time. Such
future sales or issuances, or perceived future sales or issuances, could adversely affect the price of our shares.

If our existing
shareholders sell, or are perceived as intending to sell, substantial amounts of our ordinary shares, including those issued upon the exercise of our outstanding share options, the market price of our ordinary shares could be adversely impacted.
Such sales, or perceived potential sales, by our existing shareholders might make it more difficult for us to issue new equity or equity-related securities in the future at a time and price we deem appropriate. The ordinary shares offered in our
initial public offering were eligible for immediate resale in the public market without restrictions. Shares previously held by our existing shareholders may also be sold in the public market in the future if registered under the Securities Act of
1933, as amended (the Securities Act), or if such shares qualify for an exemption from registration, including by reason of Rules 144 or 701 under the Securities Act. Additionally, we intend to register all of our ordinary shares that we
may issue under our employee stock ownership plans. Once we register those shares, they can be freely sold in the public market upon issuance, unless pursuant to their terms these stock awards have transfer restrictions attached to them.

You may not be able to exercise pre-emptive rights.

Our board of directors has the power to limit or exclude pre-emptive rights in respect of any issue and/or grant rights to subscribe for
ordinary shares. Such designation will be limited to our authorized share capital from time to time and will be effective for a period of five years. As a result, we may issue additional shares for future acquisitions or other purposes while
excluding any pre-emptive rights. If we issue additional shares without pre-emptive rights, your ownership interests in our Company would be diluted and this in turn could have a material adverse effect on the price of our shares.



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We may need additional capital and may sell additional ordinary shares or other equity
securities or incur indebtedness, which could result in additional dilution to our shareholders or increase our debt service obligations.

We believe that our current cash and anticipated cash flow from operations will be sufficient to meet our anticipated cash needs for the
foreseeable future. We may, however, require additional cash resources due to changed business conditions or other future developments, including any investments or acquisitions we may decide to pursue. If these resources are insufficient to satisfy
our cash requirements, we may seek to sell additional equity or debt securities or utilize our existing or obtain a new credit facility. The sale of additional equity securities could result in additional dilution to our shareholders. The incurrence
of indebtedness would limit our ability to pay dividends or require us to seek consents for the payment of dividends, increase our vulnerability to general adverse economic and industry conditions, limit our ability to pursue our business
strategies, require us to dedicate a substantial portion of our cash flow from operations to service our debt, thereby reducing the availability of our cash flow to fund capital expenditure, working capital requirements and other general corporate
needs, and limit our flexibility in planning for, or reacting to, changes in our business and our industry. We cannot assure you that financing will be available in amounts or on terms acceptable to us, if at all.

We have never paid, do not currently intend to pay and may not be able to pay any dividends on our ordinary shares.

We have never declared or paid any dividends on our ordinary shares and currently do not plan to declare dividends on our ordinary shares in
the foreseeable future. If we were to choose to declare dividends in the future, the payment of cash dividends on our shares is restricted under the terms of the agreements governing our indebtedness and the Implementation Agreement. In addition,
because we are a holding company, our ability to pay cash dividends on our ordinary shares may be limited by restrictions on our ability to obtain sufficient funds through dividends from subsidiaries, including restrictions under the terms of the
agreements governing our and our subsidiaries indebtedness. In that regard, our wholly-owned subsidiaries are limited in their ability to pay dividends or otherwise make distributions to us. Under Dutch law, we may only pay dividends out of
profits as shown in our adopted statutory annual accounts. We will only be able to declare and pay dividends to the extent our equity exceeds the sum of the paid and called up portion of our ordinary share capital and the reserves that must be
maintained in accordance with provisions of Dutch law and our articles of association. Our board of directors will have the discretion to determine to what extent profits shall be retained by way of a reserve. Appropriation and distribution of
dividends will be subject to the approval of our general meeting of shareholders. Our board of directors, in determining to what extent profits shall be retained by way of a reserve, will consider our ability to declare and pay dividends in light of
our future operations and earnings, capital expenditure requirements, general financial conditions, legal and contractual restrictions and other factors that it may deem relevant.

Your rights and responsibilities as a shareholder will be governed by Dutch law and will differ in some respects from the rights and
responsibilities of shareholders under U.S. law, and your shareholder rights under Dutch law may not be as clearly established as shareholder rights are established under the laws of some U.S. jurisdictions.

Our corporate affairs are governed by our articles of association and by the laws governing companies incorporated in The Netherlands. The
rights of our shareholders and the responsibilities of members of our board of directors under Dutch law may not be as clearly established as under the laws of some U.S. jurisdictions. In the performance of its duties, our board of directors will be
required by Dutch law to consider the interests of our Company, our shareholders, our employees and other stakeholders in all cases with reasonableness and fairness. It is possible that some of these parties will have interests that are different
from, or in addition to, your interests as a shareholder. We anticipate that all of our shareholder meetings will take place in The Netherlands.

In addition, the rights of holders of ordinary shares and many of the rights of shareholders as they relate to, for example, the exercise of
shareholder rights, are governed by Dutch law and our articles of association and differ from the rights of shareholders under U.S. law. For example, Dutch law does not grant appraisal rights to a companys shareholders who wish to challenge
the consideration to be paid upon a merger or consolidation of the company. See Item 10 Additional InformationGeneral.

The provisions of Dutch corporate law and our articles of association have the effect of concentrating control over certain corporate
decisions and transactions in the hands of our board of directors. As a result, holders of our shares may have more difficulty in protecting their interests in the face of actions by members of our board of directors than if we were incorporated in
the United States. See Item 10 Additional InformationGeneral.



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The interests of our principal shareholders may be inconsistent with your interests.

As of March 31, 2015, private equity investment funds affiliated with Baker Capital indirectly owned 26.85% of our equity.
Upon completion of our initial public offering, we entered into a shareholders agreement with affiliates of Baker Capital. For so long as Baker Capital or its affiliates continue to be the owner of shares representing more than 25% of our
outstanding ordinary shares, Baker Capital will have the right to designate for nomination a majority of the members of our board of directors, including the right to nominate the chairman of our board of directors. As a result, these shareholders
have, and will continue to have, directly or indirectly, the power, among other things, to affect our legal and capital structure and our day-to-day operations, as well as the ability to elect and change our management and to approve other changes
to our operation. If the proposed transaction with TelecityGroup is consummated, the shareholders agreement with Baker Capital will terminate. Please see Item 7: Major Shareholders and Related Party TransactionsRelated Party
TransactionsShareholders Agreement with Baker Capital.

The interests of Baker Capital and its affiliates could conflict with
your interests, particularly if we encounter financial difficulties or are unable to pay our debts when due. Affiliates of Baker Capital may also have an interest in pursuing acquisitions, divestitures, financings or other transactions that, in
their judgment, could enhance their equity investments, although such transactions might involve risks to you as a holder of ordinary shares. In addition, Baker Capital or its affiliates may, in the future, own businesses that directly compete with
ours or that do business with us. The concentration of ownership may further have the effect of delaying, preventing or deterring a change of control of our Company, could deprive our shareholders of an opportunity to receive a premium for their
ordinary shares as part of a sale of our Company and might ultimately affect the market price of our ordinary shares.

We are a
foreign private issuer and, as a result, and as permitted by the listing requirements of the NYSE, we may rely on certain home country governance practices rather than the corporate governance requirements of the NYSE.

Many of the corporate governance rules of the NYSE do not apply to the Company as a foreign private issuer; however, Rule 303A.11
requires foreign private issuers to describe significant differences between their corporate governance standards and the corporate governance standards applicable to U.S. companies listed on the NYSE. While the Companys management believes
that its corporate governance practices are similar in many respects to those of U.S. NYSE-listed companies and provide investors with protections that are comparable in many respects to those established by the NYSE rules, there are certain key
differences which are described below.

Under Sections 303A.04 and 303A.05 of the NYSE rules, which govern nominating/corporate governance
committees and compensation committees, respectively, the Companys Nominating Committee and Compensation Committee do not meet the NYSE independence standard, as one (1) member of each respective committee is not independent
as defined under the applicable NYSE rules.

For an overview of our corporate governance principles, see Item 16G Corporate
Governance. As a result, you may not have the same protections afforded to stockholders of companies that are not foreign private issuers.

You may be unable to enforce judgments obtained in U.S. courts against us.

We are incorporated under the laws of The Netherlands, and all or a substantial portion of our assets are located outside of the United States
and certain of our directors and officers and certain other persons named in this annual report are, and will continue to be, non-residents of the United States. As a result, although we have appointed an agent for service of process in the United
States, it may be difficult or impossible for United States investors to effect service of process within the United States upon us or our non-U.S. resident directors and officers or to enforce in the United States any judgment against us or them
including for civil liabilities under the United States securities laws. Any judgment obtained in any United States federal or state court against us may, therefore, have to be enforced in the courts of The Netherlands, or such other foreign
jurisdiction, as applicable. Because there is no treaty or other applicable convention between the United States and The Netherlands with respect to legal judgments, a judgment rendered by any United States federal or state court will not be
enforced by the courts of The Netherlands unless the underlying claim is relitigated before a Dutch court. Under current practice, however, a Dutch court will generally grant the same judgment without a review of the merits of the underlying claim
(i) if that judgment resulted from legal proceedings compatible with Dutch notions of due process, (ii) if that judgment does not contravene public policy of The Netherlands and (iii) if the jurisdiction of the United States federal
or state court has been based on grounds that are internationally acceptable. Investors should not assume, however, that the courts of The Netherlands, or such other foreign jurisdiction, would enforce judgments of United States courts obtained
against us predicated upon the civil liability provisions of the United States securities laws or that such courts would enforce, in original actions, liabilities against us predicated solely upon such laws.



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We incur increased costs as a result of being a public company.

As a listed public company, we incur additional legal, accounting, insurance and other expenses than we would have incurred as a private
company. We incur costs associated with our public company reporting requirements. In addition, the Sarbanes-Oxley Act and related rules implemented by the U.S. Securities and Exchange Commission (the SEC) and the NYSE have imposed
increased regulation and required enhanced corporate governance practices for public companies. Our efforts to comply with evolving laws, regulations and standards in this regard are likely to result in increased general and administrative expenses
and a diversion of management time and attention from revenue generating activities to compliance activities. We also expect these new rules and regulations to make it more expensive for us to obtain director and officer liability insurance, and we
may be required to accept reduced policy limits and coverage or incur substantially higher costs to obtain the same or similar coverage.

If our internal controls over financial reporting are found to be ineffective, our financial results or our stock price may be adversely
affected.

Our most recent evaluation of our internal controls resulted in our conclusion that, as of December 31, 2014, our
internal controls over financial reporting were effective. Our ability to manage our operations and growth, and other systems upgrades designed to support our growth, will require us to develop our controls and reporting systems and implement or
adopt new controls and reporting systems. If in the future our internal control over financial reporting is found to be ineffective, or if a material weakness is identified in our controls over financial reporting, our financial results may be
adversely affected. Investors may also lose confidence in the reliability of our financial statements which could adversely affect our stock price.



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ITEM 4: INFORMATION ON THE COMPANY

Overview

On March 9, 2015, we
entered into the Implementation Agreement with TelecityGroup. Pursuant to the Implementation Agreement, TelecityGroup will acquire Interxion shares at a rate of 2.3386 TelecityGroup shares per Interxion Holding N.V. share. Consummation of the
proposed transaction, to be made by way of tender offer to our shareholders, is subject to the satisfaction of certain conditions set forth in the Implementation Agreement, including obtaining the approval of the relevant regulatory bodies and of
TelecityGroups shareholders in a general meeting of shareholders and our shareholders by participating in the tender offer. Should the transaction consummate, TelecityGroup shareholders will own approximately 55% of the combined group and
Interxion shareholders will own the remainder, being approximately 45%. The primary listing for the combined group is expected to be on the London Stock Exchange, with a U.S. listing for TelecityGroups existing ADR program contemplated on
either the NYSE or the NASDAQ Stock Market.

We are a leading provider of carrier and cloud neutral colocation data center services in
Europe. We support approximately 1,500 customers through 39 data centers in 11 countries enabling them to protect, connect, process and distribute their most valuable information. Within our data centers, we enable our customers to connect to a
broad range of telecommunications carriers, Internet service providers and other customers. Our data centers act as content, cloud and connectivity hubs that facilitate the processing, storage, sharing and distribution of data, content, applications
and media between carriers and customers, creating an environment that we refer to as a community of interest.

Our core offering of
carrier and cloud neutral colocation services includes space, power, cooling and a secure environment in which to house our customers computing, network, storage and IT infrastructure. We enable our customers to reduce operational and capital
costs while improving application performance and flexibility. We supplement our core colocation offering with a number of additional services, including network monitoring, remote monitoring of customer equipment, systems management, engineering
support services, cross connects, data backup and storage.

We are headquartered near Amsterdam, The Netherlands, and we operate in major
metropolitan areas, including London, Frankfurt, Paris and Amsterdam the main data center markets in Europe. Our data centers are located in close proximity to the intersection of telecommunications fiber routes, and we house more than 500
individual carriers and Internet service providers and 20 European Internet exchanges. Our data centers allow our customers to lower their telecommunications costs and reduce latency, thereby improving the response time of their applications. This
high level of connectivity fosters the development of communities of interest.

Strategy

Target New Customers in High Growth Segments to Further Develop our Communities of Interest

We categorize our customers into segments, and we will continue to target new customers in high growth market segments, including financial
services, cloud and managed services providers, digital media and carriers. Winning new customers in these target markets enables us to expand existing, and build new, high value communities of interest within our data centers. For example,
customers in the digital media segment benefit from the close proximity to content delivery network providers and Internet exchanges in order to rapidly deliver content to consumers. We expect the high value and reduced cost benefits of our
communities of interest to continue to attract new customers, which will lead to decreased customer acquisition costs for us.

Increase Share of Spend from Existing Customers

We focus on increasing revenue from our existing customers in our target market segments. New revenue from our existing customers comprises a
substantial portion of our new business, generating the majority of our new bookings. Our sales and marketing teams focus on proactively working with customers to identify expansion opportunities in new or existing markets.

Maintain Connectivity Leadership

We seek to increase the number of carriers in each of our data centers by expanding the presence of our existing carriers into additional data
centers and targeting new carriers. We also will continue to develop our relationships with Internet exchanges and work to increase the number of Internet service providers in these exchanges. In countries where there is no significant Internet
exchange, we will work with Internet service providers and other parties to create the appropriate Internet exchange. Our carrier sales and business development team will continue to work with our existing carriers and Internet service providers,
and target new carriers and Internet service providers, to maximize our share of their data center spend, and to achieve the highest level of connectivity in each of our data centers, with the right carriers to support the requirements of each of
our communities of interest.



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Continue to Deliver Best-in-Class Customer Service

We will continue to provide a high level of customer service in order to maximize customer satisfaction and minimize churn. Our European
Customer Service Center operates 24 hours a day, 365 days a year, providing continuous monitoring and troubleshooting and giving our customers one call access to full, multilingual technical support, thereby reducing our customers internal
support costs. In addition, we will continue to develop our customer tools, which include an online customer portal to provide our customers with real-time access to information. We will continue to invest in our local service delivery and assurance
teams, which provide flexibility and responsiveness to customer needs.

Disciplined Expansion and Conservative Financial Management

We plan to invest in our data center capacity, while maintaining our disciplined investment approach and prudent financial policy.
We will continue to determine the size of our expansions based on selling patterns, pipeline and trends in existing demand as well as working with our customers to identify future capacity requirements. We only begin new expansions once we have
identified customers and we have the capital to fully fund the build out, with the goal of selling 25% of a data centers space by its opening. Our expansions are done in phases in order to manage the timing and scale of our capital expenditure
obligations, reduce risk and improve our return on capital, with a target internal rate of return in excess of 30%. Finally, we will continue to manage our capital deployment and financial management decisions based on adherence to our target
internal rate of return on new expansions and target leverage ratios. For a description of past and current capital expenditures, see Item 5 Operating and Financial Review and Prospects.

If the proposed transaction with TelecityGroup is consummated, the strategy of the combined businesses may be reviewed and as a result may
differ from the strategy outlined above.

Our Services

We offer carrier and cloud neutral colocation data center and managed services to our customers.

Colocation

Our colocation
services provide clients with the space and power to deploy IT infrastructure in our world-class data centers. Through a number of redundant subsystems, including power, fiber and cooling, we are able to provide our customers with highly reliable
services. Our colocation services are scalable, allowing our customers to upgrade space, connectivity and services as their requirements evolve. Our data centers employ a wide range of physical security features, including biometric scanners, man
traps, smoke detection, fire suppression systems, and secure access. We provide colocation services including:

Space

Each of our data centers houses our customers IT infrastructure in a highly connected facility, designed and outfitted to ensure a high
level of network reliability. This service provides space and power to our clients to deploy their own IT infrastructure. Customers can choose individual cabinets or a secure cage or an individual room depending on their space and security
requirements.

Power

Each of our data centers is equipped to offer our customers high power availability. Since the availability of power is essential to the
operation of our data centers, we provide power backup in case of outage as the availability of power is essential to the operation of a data center. The vast majority of our data centers have redundant grid connections and all of our data centers
have a power backup installation in case of outage. Generators in combination with uninterrupted power supply, or UPS, system, endeavor to ensure maximum availability. We provide a full range of output voltages and currents and we offer our
customers a choice of guaranteed levels of availability between 99.9% and 99.999%.

Connectivity

We provide connectivity services that allow our customers to connect their IT infrastructure. These services offer connectivity with more than
500 telecommunications carriers and allow our customers to reduce costs while enhancing the reliability and performance associated with the exchange of Internet and other data traffic. Our connectivity options offer our customers a key strategic
advantage by providing direct, high-speed connections to peers, partners, customers and some of the most important sources of IP data, content, cloud platforms and distribution in the world.



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Cross Connect

We install and manage physical connections running from our customers equipment to the equipment of our telecommunications carrier,
Internet service providers and Internet exchange customers as well as other customers. Cross connects are physically secured in dedicated areas called Meet-Me rooms. Our staff test and install cables and patches and maintain cable trays and patch
panels according to industry best practice.

Managed Services

In addition to providing colocation services, we provide a number of additional managed services, including systems monitoring, systems
management, engineering support services, data back-up and storage. Some managed services are only performed on an ad hoc basis, as and when requested by the customer, while others are more recurring in nature. These services are provided either by
us directly, or in conjunction with third parties.

Customers

We categorize our customers into customer segments including: digital media and distribution, enterprises, financial services, managed services
providers and network providers. We have approximately 1,400 customers. The majority of our customers have entered into contracts with us for an initial three to five year term, which are typically renewed perpetually and automatically for
successive one year periods.

In the year ended December 31, 2014, 33% of our Recurring Revenue came from our top 20 customers, 23%
of our Recurring Revenue came from our top 10 customers and no single customer accounted for more than 10% of our Recurring Revenue.

The
following table sets forth some of our representative customers by segment:



|                               |  |               |  |                      |  |                          |  |                         
|------------------------------ |  | ------------- |  | -------------------- |  | ------------------------ |  | ------------------------
|Digital Media and
Distribution |  | Enterprises   |  | Financial Services   |  | Managed ServiceProviders |  | Network Providers       
|Akamai                         |  | Bacardi       |  | ABN Amro Bank N.V.   |  | Hewlett-Packard          |  | AT&T                    
|Britel                         |  | Canon         |  | Aviva                |  | IBM                      |  | British Telecom         
|Bwin                           |  | Lease Plan    |  | Barclays Capital     |  | Terremark                |  | Colt Technology Services
|Deluxe                         |  | Merger Market |  | Bloomberg            |  |                          |  | Interoute Communications
|Internap                       |  |               |  | Fixnetix             |  |                          |  | Level3                  
|Limelight                      |  |               |  | Euronext             |  |                          |  | Sprint                  
|RTL Interactive                |  |               |  | Options IT           |  |                          |  |                         
|                               |  |               |  | Sungard              |  |                          |  |                         
|                               |  |               |  | Trading Technologies |  |                          |  |                         

Customer service is provided locally by our in-country teams and centrally via our European Customer Service
Center located in London. The European Customer Service Center supports five European languages (Dutch, English, French, German and Spanish) and is run by technical support staff and operates 24 hours a day, 365 days a year, in order to provide
rapid and cost-effective technical and business support to all of our clients. In addition to its service desk functions, the European Customer Service Center monitors and manages the performance of our data centers and takes care of network
monitoring and other network operations center functions. The European Customer Service Center arranges, as necessary, local engineering support, rapid response (out of hours emergency assistance), backup and restore and other managed
services. There is also a customer relationship management system in place to electronically log each issue that the European Customer Service Center is requested to address to ensure efficient and timely support.

Customer Contracts

Our customers
typically sign contracts for the provision of colocation space together with basic service level agreements that provide for support services and other managed services. Unless customers notify us of their intention to terminate, which is typically
90 days in advance of the end of the contract period, contracts (a majority of which have an initial term of three to five years) typically renew perpetually and automatically for successive one year periods. However, where beneficial to us we will,



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prior to the expiry of a customer contract, seek to re-negotiate and re-sign with a customer (generally for a minimum one-year period). Our contracts generally allow us the option to increase
prices in accordance with local price indices in each jurisdiction and we are able to adjust the amount charged for power at any time and as frequently as necessary during the life of the contract to account for any increases in power costs we are
charged by our suppliers.

Contracts for colocation services are priced on the basis of a monthly recurring fee reflecting charges for
space, power used in the common parts of the data center, power plugs and metered power usage, with related infrastructure and implementation costs included in an initial set-up fee. Clients have two options with respect to power usage:
either (i) to pay for power usage in plugs in advance (typically included in the total cabinet price), which are contractually defined amounts of power per month, for which the customer must pay in full, regardless of how much power
is actually used; or (ii) to pay for their actual power usage in arrears on a metered basis. The first option (power plugs) is usually sold in shared areas of our data centers where customers pay per cabinet. The second option (metered power
usage) is usually sold to customers taking dedicated space such as a cage, suite or private room where they are charged on a per square meter basis.

As with colocation services, our managed services are typically contracted on the basis of an annual contract (or longer where appropriate)
and the fee generally consists of monthly recurring charges and usage based charges as appropriate, and may also include an initial set-up fee. If managed services are ad hoc in nature, they are invoiced on completion of the service.

Each new customer contract we enter into provides that in the event of a power outage or other equivalent service level agreement breach (e.g.
for repeatedly crossing a temperature or humidity benchmark), the customer will receive a service credit in the form of a reduction in its next service fee payment, the credit being on a sliding scale to reflect the seriousness of the breach. Our
customer contracts typically exclude liability for consequential or indirect loss suffered as a result of a service level agreement breach and for force majeure. Historically, our penalty payments under our service level agreements have been
minimal.

Customer Accounts

Fees are
typically invoiced quarterly in advance, with the exception of metered power usage which is invoiced monthly in arrears. On new contracts, we generally require deposits, which we are able to use to cover any non-payment of invoices. If accounts are
not paid on time, we ultimately seek recovery through the court system.

Sales and Marketing

Our sales and marketing teams focus on proactively identifying and converting opportunities for both existing customers and prospects within
our target segments, to expand customers space within our data center portfolio.

Sales

We sell our products and services through local direct sales forces and a centralized International Accounts Team and by attending tradeshows,
networking events and industry seminars. Our International Accounts Team focuses on maximizing revenues across our European footprint from our largest customers and on identifying and developing new major accounts. We utilize a number of indirect
channel partners in the United States to secure both referrals and orders from companies based out of the United States.

Marketing

Our marketing organization is responsible for identifying target customer segments, development of the value proposition that will
enable us to succeed in our chosen segments, building and communicating a distinct brand, driving qualified leads into the sales pipeline and ensuring strategic alignment with key partners. Our marketing team supports our strategic priorities
through the following primary objectives:

Customer Segmentation

Our marketing organization is responsible for the identification of high-growth customer segments and associated companies therein that we wish
to target in order to build the community of interest and develop our value proposition to enable success in our chosen markets. Our marketing organization is also responsible for business development of key magnetic and strategic accounts in each
segment working with sales in order to build our communities of interest. Magnetic companies when present in our data centers, attract other interested members to join the community. The magnetic effect can be a consequence of the application,
data or capability that they place in our data centers. A company in one of our segments is considered strategic if its presence adds value to the community of interest by increasing the magnetism of the community. This can be
achieved by virtue of its brand and the associated added value to Interxion and the community.



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Brand Management and Positioning

This includes brand identity unification, positioning at the corporate and country levels, the development of methodology, marketing assets and
brand awareness programs for all of our business units.

Lead Generation

Utilizing online marketing, targeted advertising, direct marketing, event marketing and public relations programs and strategies to design and
execute successful lead-generation campaigns leveraging telemarketing and direct sales to grow our pipeline and deliver our revenue goals.

Employees

As of December 31, 2014 we had a total of 500 employees (full time equivalents, excluding contractors and interim staff) of which
294 employees worked in operations and support, 96 employees worked in sales and marketing and 110 employees served general and administrative roles. Of our employees 379 were based in countries where we have operations and 121 employees worked from
our headquarters near Amsterdam and corporate offices in London as of December 31, 2014. We believe that relations with our employees are good. Except for collective rights granted by local law, none of our employees are subject to collective
bargaining agreements.

Leases

We
hold title to the AMS3, AMS6, BRU1, CPH2, FRA8, MRS1, PAR3 and PAR5 properties, and we have exercised the options and agreed to purchase the PAR7 freehold land on which we own the PAR7 data center, and the AMS7 and VIE freehold land and properties.
As of December 31, 2014, the AMS7, PAR7 and VIE properties are reported as financial leases. In January 2015, we completed the acquisition of the VIE properties, and terminated the VIE financial lease. The VIE properties will continue to be
reported as assets in future periods. The PAR7 and AMS7 properties are currently reported as financial leases, and they will be reported as such until the acquisitions complete. For the leased properties on which our data centers are located, we
generally seek to secure property leases for terms of 20 to 25 years. Where possible, we try to mitigate the long-term financial commitment by contracting for initial lease terms for a minimum period of 10 to 15 years with the option for us to
either (i) extend the leases for additional five-year terms or (ii) terminate the leases upon expiration of the initial 10 to 15 year term. Our leases generally have consumer price index based annual rent increases over the full term of
the lease.

Data Center Operations

We have 39 carrier and cloud neutral colocation data centers in 13 metropolitan areas in 11 countries, representing approximately 105,900
square meters of maximum equippable space (as of December 31, 2014). Maximum equippable space is the maximum amount of space in our data centers which is designed to be used and sold as Equipped Space.

All of our data centers are located in Europe and all of our revenues are generated in Europe. For more information on the geographic
breakdown of our revenues, see Note 5 of our 2014 consolidated financial statements, included elsewhere herein.

We select sites for our
data centers based primarily on expected customer demand, availability of power and access to telecommunications fiber routes. Most of our data centers are stand-alone structures, close to power sub-stations and telecommunication networks in light
industrial areas outside of city centers, rather than residential areas where more prohibitive environmental regulations exist. Data center design and development is a highly complex process. Data center construction requires extensive planning and
must navigate regulatory procedures which can vary by jurisdiction. We have developed extensive technical experience in building data centers in Europe and we are well-positioned to bring new data centers to market rapidly to meet customer demand.



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The following table presents the key characteristics of our data centers.



|                   |  |              |  |                           |  |                                              |         | 
|------------------ |  | ------------ |  | ------------------------- |  | -------------------------------------------- | ------- | 
|Country            |  | Location     |  | Ready for service Quarter |  | MaximumEquippable Spaceas ofDecember 31,2014 |        
|                   |  |              |  |                           |  | Square Meters                                |        
|Austria            |  | Vienna1     |  | Third Quarter, 2000       |  |                                              | 4,700   | 
|Austria            |  | Vienna2     |  | Fourth Quarter, 2014      |  |                                              | 2,800   | 
|Belgium            |  | Brussels     |  | Third Quarter, 2000       |  |                                              | 5,100   | 
|Denmark            |  | Copenhagen1 |  | Third Quarter, 2000       |  |                                              | 3,800   | 
|France             |  | Marseille    |  | Third Quarter, 2014       |  |                                              | 5,700   | 
|France             |  | Paris1      |  | First Quarter, 2000       |  |                                              | 1,400   | 
|France             |  | Paris2      |  | Third Quarter, 2001       |  |                                              | 3,000   | 
|France             |  | Paris3      |  | Third Quarter, 2007       |  |                                              | 2,000   | 
|France             |  | Paris4      |  | Third Quarter, 2007       |  |                                              | 1,300   | 
|France             |  | Paris5      |  | Fourth Quarter, 2009      |  |                                              | 4,100   | 
|France             |  | Paris6      |  | Third Quarter, 2009       |  |                                              | 1,400   | 
|France             |  | Paris7      |  | Second Quarter, 2012      |  |                                              | 4,700   | 
|Germany(1)         |  | Dusseldorf   |  | Second Quarter, 2000      |  |                                              | 2,900   | 
|Germany            |  | Frankfurt1  |  | First Quarter, 1999       |  |                                              | 500     | 
|Germany            |  | Frankfurt2  |  | Fourth Quarter, 1999      |  |                                              | 1,100   | 
|Germany            |  | Frankfurt3  |  | First Quarter, 2000       |  |                                              | 2,200   | 
|Germany            |  | Frankfurt4  |  | First Quarter, 2001       |  |                                              | 1,400   | 
|Germany            |  | Frankfurt5  |  | Third Quarter, 2008       |  |                                              | 1,700   | 
|Germany            |  | Frankfurt6  |  | Second Quarter, 2010      |  |                                              | 2,200   | 
|Germany            |  | Frankfurt7  |  | First Quarter, 2012       |  |                                              | 1,500   | 
|Germany            |  | Frankfurt8  |  | Second Quarter, 2014      |  |                                              | 3,700   | 
|Germany            |  | Frankfurt9  |  | First Quarter, 2014       |  |                                              | 800     | 
|Ireland            |  | Dublin1     |  | Second Quarter, 2001      |  |                                              | 1,100   | 
|Ireland            |  | Dublin2     |  | First Quarter, 2010       |  |                                              | 2,300   | 
|The Netherlands(2) |  | Amsterdam1  |  | First Quarter, 1998       |  |                                              | 600     | 
|The Netherlands    |  | Amsterdam2  |  | First Quarter, 1999       |  |                                              | 700     | 
|The Netherlands    |  | Amsterdam3  |  | Fourth Quarter, 1999      |  |                                              | 3,100   | 
|The Netherlands(2) |  | Amsterdam4  |  | Fourth Quarter, 2000      |  |                                              |        | 
|The Netherlands    |  | Amsterdam5  |  | Fourth Quarter, 2008      |  |                                              | 4,300   | 
|The Netherlands    |  | Amsterdam6  |  | Third Quarter, 2012       |  |                                              | 4,400   | 
|The Netherlands    |  | Amsterdam7  |  | First Quarter, 2014       |  |                                              | 7,400   | 
|The Netherlands    |  | Hilversum    |  | Third Quarter, 2001       |  |                                              | 600     | 
|Spain              |  | Madrid1     |  | Third Quarter, 2000       |  |                                              | 4,000   | 
|Spain              |  | Madrid2     |  | Fourth Quarter, 2012      |  |                                              | 1,700   | 
|Sweden             |  | Stockholm1  |  | Third Quarter, 2000       |  |                                              | 1,900   | 
|Sweden             |  | Stockholm2  |  | Second Quarter, 2013      |  |                                              | 1,000   | 
|Sweden             |  | Stockholm3  |  | Third Quarter, 2014       |  |                                              | 900     | 
|Switzerland(3)     |  | Zurich       |  | Fourth Quarter, 2000      |  |                                              | 7,100   | 
|UK(4)              |  | London1     |  | Third Quarter, 2000       |  |                                              | 5,300   | 
|UK                 |  | London2     |  | Third Quarter, 2012       |  |                                              | 1,500   | 
|                   |  |              |  |                           |  |                                              |         | 
|Subtotal           |  |              |  |                           |  |                                              | 105,900 | 
|                   |  |              |  |                           |  |                                              |         | 

Notes:

|(1) | Dusseldorf maximum equippable space increased by 100 square meters as a result of a new expansion.
|--- | --------------------------------------------------------------------------------------------------

|(2) | The maximum equippable space of Amsterdam4 is included in the maximum equippable space of Amsterdam1.
|--- | -------------------------------------------------------------------------------------------------------

|(3) | Zurich maximum equippable space increased by 600 square meters as result of a new expansion.
|--- | --------------------------------------------------------------------------------------------

|(4) | London1 maximum equippable space increased by 100 square meters as result of a new expansion.
|--- | ----------------------------------------------------------------------------------------------



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Seasonality

The Companys operations are not significantly exposed to seasonality.

Competition

We compete with all
providers of data center services including in-house and outsourced data centers. Our chief competitors among each of the types of competition are listed below.

Carrier and Cloud Neutral Colocation Data Centers

Carrier and cloud neutral colocation data centers in Europe include Equinix, TelecityGroup and Telehouse. These companies are our chief
competitors (TelecityGroup will continue to be one of our competitors until the proposed transaction is consummated).

Wholesale
Data Centers

Competitor wholesale data center providers include Digital Realty Trust and Global Switch.

Carrier-Operated Data Centers

Carriers that operate their own data centers in Europe include AT&T, BT, Cable & Wireless, Colt Technology Services, Verizon,
Level 3 and Deutsche Telekom amongst others.

IT Outsourcers and Managed Services Provider Data Centers

IT outsourcers and managed services providers in Europe include HP, IBM, Rackspace and Sungard.

Please see Item 3 Key InformationRisk FactorsWe face significant competition and we may not be able to compete
successfully against current and future competitors.

Litigation

We have not been party to any legal proceedings, governmental or arbitration proceedings during the twelve months preceding the date of this
annual report which may have, or have had in the recent past, a significant effect on our financial position.

Regulation

Although we are not subject to any financial regulations (such as outsourcing requirements, MiFID or Basel II), our financial services
customers commonly are. In their contracts with us, these financial services customers impose access, audit and inspection rights to those parts of our data centers that contain their equipment so that they can satisfy their regulatory requirements.

In addition, as a consumer of substantial amounts of electricity, we are affected by the CRC Energy Efficiency Scheme, or the Scheme,
which was introduced in 2010, and simplified in May 2013 by the CRC Energy Efficiency Scheme Order 2013. It is a mandatory UK-wide emissions trading scheme based on electricity usage. Phase 2 runs from April 1, 2014 to March 31, 2019. For
Phase 2 of the Scheme, organizations will qualify if, during the qualification year, they consumed over 6,000 MWh of qualifying electricity through at least one settled half hour meter. We qualified for the Scheme and registered for Phase 2 with the
CRC Registry by the deadline of January 31, 2014. Non-compliance with the Scheme may result in criminal and civil penalties.

Once
registered for Phase 2, participants (on an annual basis) have to monitor and report their electricity consumption and purchase and then surrender allowances equal to the quantity of CO2 emissions associated with that consumption before the end of
October following each compliance year. One allowance must be surrendered for each tonne of CO2 emitted. Allowances can be bought or traded and participants must submit an annual report on their CRC energy supplies by the end of July in each
compliance year. The allowance price for 2014/2015 was £15.60 per tonne of CO2 in the April 2014 forecast sale and will be £16.40 per tonne in the buy to comply sale in June 2015. The allowance price for
2015/16 will be £16.10 per tonne in the April 2015 forecast sale and will be £16.90 per tonne in the buy to comply sale in June 2016. Through the annual report publication, the UK Environmental Agency
also publishes information on the basis of participants annual reports, plus details the participants submitted when they registered for the Scheme. The potential impacts of the Scheme on our data centers in the UK include the costs of
improving energy efficiency in order to reduce electricity consumption and the costs of allowances and administration in complying with the Scheme.



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Our data centers may also be adversely affected by any future application of additional
regulation relating to energy usage, for example seeking to reduce the power consumption of companies and fees or levies in this regard. The European Union is aiming to reduce primary energy consumption by 20% by 2020 pursuant to the Energy
Efficiency Directive 2012, which obliges member states to set themselves indicative targets, establish auditing requirements and report to the European Commission through periodic National Energy Efficiency Action Plans. The UK has committed to
ensuring that 15% of its energy needs are met by renewable sources by 2020.

On July 17, 2014, the Energy Saving Opportunity Scheme
Regulations 2014 (ESOS) came into force in the UK, implementing Article 8 of the Energy Efficiency Directive 2012 relating to energy audits. With the aim of encouraging investment in energy efficiency, all large enterprises will be
required to participate. A large undertaking under the ESOS framework is a company that: (i) employs at least 250 employees; or (ii) has an annual turnover exceeding 50 million and an annual balance sheet turnover
exceeding 43 million. Participants are required to measure their total energy consumption over a 12 month period and carry out energy audits of at least 90% of their energy consumption, either through an ESOS energy audit or an alternative
compliance method (such as ISO50001 certification). Participants also have to confirm compliance with the scheme administrator. The energy audit must identify reasonably practicable and cost-effective recommendations to improve energy efficiency
although there is no legal obligation to implement such recommendations. In the future, it may become mandatory to implement such recommendations.

ESOS runs in four year phases and each phase has a qualification date at which companies must determine if they qualify (the first
qualification date was December 31, 2014) and a compliance date by which the ESOS assessment must be carried out and notification must be given to the UK Environment Agency (the first compliance date is December 5, 2015). There is some
overlap with scopes of and reporting under the CRC Energy Efficiency Scheme, Climate Change Agreements (CCAs) and mandatory greenhouse gas reporting requirements. If a qualifying undertaking does not comply with its obligations, the
relevant compliance body can issue an enforcement notice and seek civil penalties. Costs associated with ESOS include the costs of the ESOS assessments and then voluntary costs of implementing any energy efficiency measures identified. Interxion
qualifies for the scheme and is in the process of complying with its audit obligations.

CCAs are voluntary agreements between the UK
Government and energy intensive sectors allowing a discount from the UK Climate Change Levy (which is a tax added to electricity and fuel bills) in return for companies meeting carbon saving targets. CCA targets are due to be revised in 2016. From
April 1, 2013, participants are entitled to a 90% reduction on the electricity Climate Change Levy and 65% reduction for other fuels if they agree to and meet their targets. Energy captured under a CCA does not count as supplies within the
Scheme. Data center businesses providing colocation space (both wholesale and retail) have been eligible for CCAs since July 2014, when the data center sector association, techUK, signed an umbrella agreement with the UK Environment Agency. We have
not signed an underlying CCA and thus our energy consumption is subject to the CRC Energy Efficiency Scheme.

As an operator of data
centers which act as content and connectivity hubs that facilitate the storage, sharing and distribution of data, content and media for customers, we have in place an Acceptable Use Policy which applies to all of our customers using Internet
connectivity services provided by us and which requires our customers to respect all legislation pertaining to the use of Internet services, including email.

We are subject to telecommunications regulation in the various European jurisdictions in which we presently operate, most notably the EU
Regulatory Framework. Under these regulations, we are not required to obtain licenses for the provision of our services. However, we may be required to notify the national telecommunications regulator in certain European jurisdictions about these
services. We have made the necessary notifications for such jurisdictions.

By operating data centers, we will process personal data
under the EU Data Protection Directive (95/46/EC). This directive is implemented through adoption in local legislation of the EU member states. We are subject to this legislation in most European jurisdictions as processors and controllers in the
meaning of this Directive. This may impose obligations on us, such as an obligation to take reasonable steps to protect that information.

Insurance

We have in place insurance coverage which we consider to be reasonable and against the type of risks usually insured by companies
carrying on the same or similar types of business as ours in the markets in which we operate. Our insurance broadly falls under the following four categories: professional indemnity, general third party liability, directors and officers liability
and property damage insurance and business interruption insurance.



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Our History and Organizational Structure

European Telecom Exchange BV was incorporated on April 6, 1998, which (after being renamed InterXion Holding B.V. on June 12, 1998)
was converted into InterXion Holding N.V. on January 11, 2000. For further information on the history and development of the Company, see Item 10 Additional InformationGeneral. From inception onwards we have grown our
colocation business organically. We developed our current footprint (both in terms of countries and cities) between 1999 and 2001 and now operate in 11 countries and 14 cities. Following the industry downturn beginning in 2001 as a result of a sharp
decline in demand for Internet-based businesses, we restructured to refocus on a broader and more stable customer base. We have since focused on shifting our customer base from primarily emerging Internet companies and carriers to a wide variety of
established businesses seeking to house their IT infrastructure.

Our subsidiaries perform various tasks, such as servicing our clients,
operating our data centers, customers support, and providing management, sales and marketing support to the Group. The following table sets forth the name, country of incorporation and (direct and indirect) ownership interest of our most significant
subsidiaries based on revenues and total assets:



|                                   |  |                          |  |             |     |   |          |                                  
|---------------------------------- |  | ------------------------ |  | ----------- | --- | - | -------- | ---------------------------------
|Entity                             |  | Country of
incorporation |  | Ownership
% |     |   | Activity
|InterXion HeadQuarters B.V.        |  | The Netherlands          |  |             | 100 | % |          | Management                       
|Interxion Europe Ltd               |  | United Kingdom           |  |             | 100 | % |          | Management                       
|InterXion Operational B.V.         |  | The Netherlands          |  |             | 100 | % |          | Management/Holding               
|InterXion Nederland B.V.           |  | The Netherlands          |  |             | 100 | % |          | Provision of co-location services
|InterXion Datacenters B.V.         |  | The Netherlands          |  |             | 100 | % |          | Data center sales & marketing    
|InterXion Real Estate Holding B.V. |  | The Netherlands          |  |             | 100 | % |          | Real estate management/Holding   
|InterXion Real Estate I B.V.       |  | The Netherlands          |  |             | 100 | % |          | Real estate                      
|InterXion Real Estate IV B.V.      |  | The Netherlands          |  |             | 100 | % |          | Real estate                      
|InterXion Real Estate V B.V.       |  | The Netherlands          |  |             | 100 | % |          | Real estate                      
|InterXion Real Estate X B.V.       |  | The Netherlands          |  |             | 100 | % |          | Real estate                      
|InterXion Österreich GmbH          |  | Austria                  |  |             | 100 | % |          | Provision of co-location services
|InterXion Real Estate VII GmbH     |  | Austria                  |  |             | 100 | % |          | Real estate                      
|InterXion Belgium N.V.             |  | Belgium                  |  |             | 100 | % |          | Provision of co-location services
|InterXion Real Estate IX NV.       |  | Belgium                  |  |             | 100 | % |          | Real estate                      
|InterXion Danmark ApS              |  | Denmark                  |  |             | 100 | % |          | Provision of co-location services
|InterXion Real Estate VI ApS.      |  | Denmark                  |  |             | 100 | % |          | Real estate                      
|Interxion France SAS               |  | France                   |  |             | 100 | % |          | Provision of co-location services
|Interxion Real Estate II SARL      |  | France                   |  |             | 100 | % |          | Real estate                      
|Interxion Real Estate III SARL     |  | France                   |  |             | 100 | % |          | Real estate                      
|Interxion Real Estate XI SARL      |  | France                   |  |             | 100 | % |          | Real estate                      
|InterXion Deutschland GmbH         |  | Germany                  |  |             | 100 | % |          | Provision of co-location services
|InterXion Ireland Ltd              |  | Ireland                  |  |             | 100 | % |          | Provision of co-location services
|Interxion España SA                |  | Spain                    |  |             | 100 | % |          | Provision of co-location services
|InterXion Sverige AB               |  | Sweden                   |  |             | 100 | % |          | Provision of co-location services
|InterXion (Schweiz) AG             |  | Switzerland              |  |             | 100 | % |          | Provision of co-location services
|InterXion Real Estate VIII AG.     |  | Switzerland              |  |             | 100 | % |          | Real estate                      
|InterXion Carrier Hotel Ltd.       |  | United Kingdom           |  |             | 100 | % |          | Provision of co-location services



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ITEM 4A: UNRESOLVED STAFF COMMENTS

Not applicable.



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ITEM 5: OPERATING AND FINANCIAL REVIEW AND PROSPECTS

The following information should be read in conjunction with the audited consolidated financial statements and notes thereto and with the
financial information presented in Item 18 Financial Statements included elsewhere in this annual report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Such statements
are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. For example, the words believes,
anticipates, plans, expects, intends and similar expressions are intended to identify forward-looking statements. Our actual results could differ materially from those discussed in these
forward-looking statements. Factors that might cause such a discrepancy include, but are not limited to, those discussed in Liquidity and Capital Resources below and Item 3 Key InformationRisk Factors above.
All forward-looking statements in this annual report are based on information available to us as of the date of this annual report and we assume no obligation to update any such forward-looking statements.

Overview

On March 9, 2015, we
entered into the Implementation Agreement with TelecityGroup. Pursuant to the Implementation Agreement, TelecityGroup will acquire Interxion shares at a rate of 2.3386 TelecityGroup shares per Interxion Holding N.V. share. Consummation of the
proposed transaction, to be made by way of tender offer to our shareholders, is subject to the satisfaction of certain conditions set forth in the Implementation Agreement, including obtaining the approval of the relevant regulatory bodies and of
TelecityGroups shareholders in general meeting and our shareholders by participation in the tender offer. Should the transaction consummate, TelecityGroup shareholders will own approximately 55% of the combined group and Interxion shareholders
will own the remainder, being approximately 45%. The primary listing for the combined group is expected to be on the London Stock Exchange, with a U.S. listing for TelecityGroups existing ADR program contemplated on either the NYSE or the
NASDAQ Stock Market.

We are a leading provider of carrier and cloud neutral colocation data center services in Europe. We support
approximately 1,500 customers through 39 data centers in 11 countries enabling them to protect, connect, process and distribute their most valuable information. Within our data centers, we enable our customers to connect to a broad range of
telecommunications carriers, Internet service providers and other customers. Our data centers act as content, cloud and connectivity hubs that facilitate the processing, storage, sharing and distribution of data, content, applications and media
between carriers and customers, creating an environment that we refer to as a community of interest.

Our core offering of carrier and
cloud neutral colocation services includes space, power, cooling and a secure environment in which to house our customers computing, network, storage and IT infrastructure. We enable our customers to reduce operational and capital costs while
improving application performance and flexibility. We supplement our core colocation offering with a number of additional services, including network monitoring, remote monitoring of customer equipment, systems management, engineering support
services, cross connects, data backup and storage.

We are headquartered near Amsterdam, The Netherlands, and we operate in major
metropolitan areas, including London, Frankfurt, Paris and Amsterdam the main data center markets in Europe. Our data centers are located in close proximity to the intersection of telecommunications fiber routes, and we house more than 500
individual carriers and Internet service providers and 20 European Internet exchanges. Our data centers allow our customers to lower their telecommunications costs and reduce latency, thereby improving the response time of their applications. This
high level of connectivity fosters the development of communities of interest.

Our data centers house connections to more than 500
individual carriers and Internet service providers and 20 European Internet exchanges, which allows our customers to lower their telecommunications costs and, by reducing latency, improve the response time of their applications. This connectivity to
carriers and Internet service providers, and to other customers, fosters the development of value-added communities of interest, which are important to customers in each of our segments: network providers, managed services providers (including cloud
service providers), enterprises, financial services and digital media. Development of our communities of interest generates network effects for our customers that enrich the value and attractiveness of the community to both existing and potential
customers.

Growth in Internet traffic, cloud computing and the use of customer-facing hosted applications are driving significant demand
for high quality carrier and cloud neutral colocation data center services. This demand results from the need for either more space or more power, or both. These needs, in turn, are driven by, among other factors, decreased cost of Internet access,



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increased broadband penetration, increased usage of high-bandwidth content, increased number of wireless access points and growing availability of Internet and network based applications. If the
global economys recovery stalls or is reversed, global IP traffic may grow at a lesser rate, which could lead to a slowdown in the increase in demand for our services.

Our ability to meet the demand for high quality carrier and cloud neutral colocation data center services depends on our ability to add
capacity by expanding existing data centers or by locating and securing suitable sites for additional data centers that meet our specifications, such as proximity to numerous network service providers, access to a significant supply of electrical
power and the ability to sustain heavy floor loading.

Our market is highly competitive. Most companies operate their own data centers and
in many cases continue to invest in data center capacity, although there is a trend towards outsourcing. We compete against other carrier and cloud neutral colocation data center service providers, such as Equinix, TelecityGroup (until the proposed
transaction is consummated) and Telehouse. We also compete with other types of data centers, including carrier-operated colocation, wholesale and IT outsourcers and managed services provider data centers. The cost, operational risk and inconvenience
involved in relocating a customers networking and computing equipment to another data center are significant and have the effect of protecting a competitors data center from significant levels of customer churn.

Key Aspects of Our Financial Model

We
offer carrier and cloud neutral colocation services to our customers. Our revenues are mostly recurring in nature and in the last several years, Recurring Revenue has consistently represented over 90% of our total revenue. Our contracted Recurring
Revenue model together with low levels of Average Monthly Churn provide significant predictability of future revenue.

Revenue

We enter into contracts with our customers for initial terms of generally three to five years, with annual price escalators and with automatic
one-year renewals after the end of the initial term. Our customer contracts provide for a fixed monthly recurring fee for our colocation, managed services and, in the case of cabinets, fixed amounts of power pre-purchased at a fixed price. These
fees are billed monthly, quarterly or bi-annually in advance, together with fees for other services such as the provision of metered power (based on a price per kilowatt hour actually consumed), billed monthly in arrears, or fees for services such
as remote hands and eyes support, billed on an as-incurred basis.

The following table presents our future committed revenues expected to
be generated from our fixed term customer contracts as of December 31, 2014, 2013 and 2012.



|                     |  |      |         |  |      |  |         |      |  |  |         | 
|-------------------- |  | ---- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                     |  | 2014 |         |  | 2013 |  |         | 2012 | 
|Within 1 year        |  |      | 253,100 |  |      |  | 219,300 |      |  |  | 204,164 | 
|Between 1 to 5 years |  |      | 343,500 |  |      |  | 301,600 |      |  |  | 240,951 | 
|After 5 years        |  |      | 90,700  |  |      |  | 101,800 |      |  |  | 105,069 | 
|                     |  |      |         |  |      |  |         |      |  |  |         | 
|Total                |  |      | 687,300 |  |      |  | 622,700 |      |  |  | 550,184 | 
|                     |  |      |         |  |      |  |         |      |  |  |         | 

Revenues are recognized when it is probable that future economic benefits will flow to the Group and that
these benefits, together with their related costs, can be measured reliably. Revenues are measured at the fair value of the consideration received or receivable taking into account any discounts or volume rebates.

The Group reviews transactions for separately identifiable components of revenue and if necessary applies individual recognition treatment, in
which revenues are allocated to separately identifiable components based on their relative fair values.

The Group earns colocation
revenue as a result of providing data center services to customers at its data centers. Colocation revenues and lease income are recognized in profit or loss on a straight-line basis over the term of the customer contract. Incentives granted are
recognized as an integral part of the total income, over the term of the customer contract. Customers are usually invoiced quarterly in advance and income is recognized on a straight-line basis over the quarter. Initial setup fees payable at the
beginning of customer contracts are deferred at inception and recognized in profit or loss on a straight-line basis over the initial term of the customer contract. Power revenues are recognized based on customers usage and are generally
matched with the corresponding costs.



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Other services revenue, including managed services, connectivity and customer installation
services, including equipment sales, are recognized when the services are rendered. Certain installation services and equipment sales, which by their nature are non-recurring, are presented as non-recurring revenues and are recognized upon delivery
of service.

Deferred revenues relating to invoicing in advance and initial setup fees are carried on the statement of financial position
as part of trade payables and other liabilities. Deferred revenues due to be recognized after more than one year are held in non-current liabilities.

Recurring Revenue comprises revenue that is incurred monthly from colocation and associated power charges, office space, amortized set-up fees
and certain recurring managed services (but excluding any ad hoc managed services) provided by us directly or through third parties. Rents received for the sublease of unused sites are excluded.

Costs

Our cost base consists primarily
of personnel, power and property costs.

We employ the majority of our personnel in operations and support roles that operate our data
centers 24 hours a day, 365 days a year. As of December 31, 2014 we employed 500 full-time equivalent employees: 294 in operations and support; 96 in sales and marketing; and 110 served in general and administrative roles. A data center
typically requires a fixed number of personnel to run, irrespective of customer utilization. Increases in operations and support personnel occur when we bring new data centers into service. Our approach is, where possible, to locate new data centers
close to our existing data centers. In addition to other benefits of proximity, in some cases it also allows us to leverage existing personnel within a data center campus.

In 2014, 2013 and 2012, we invested resources in sales and marketing personnel to engage with our existing and potential customers on an
industry basis. This has enabled us to establish closer relationships with our customers thereby allowing us to understand and anticipate their needs and to forecast demand, helping us plan the scope and timing of our expansion activities.

Our customers equipment consumes significant amounts of power and generates heat. In recent years the amount of power consumed by an
individual piece of equipment, or power density, has increased as processing capacity has increased. In maintaining the correct environmental conditions for the equipment to operate most effectively, our cooling and air conditioning infrastructure
also consumes significant amounts of power. Our power costs are variable and directly dependent on the amount of power consumed by our customers equipment. Our power costs also increase as the Utilization Rate of a data center increases.
Increases in power costs due to increased usage by our customers are generally matched by corresponding increases in power revenues.

The
unit price we pay for our energy also has an impact on our energy costs. We generally enter into contracts with local utility companies to purchase energy at fixed prices for periods of one or two years. Within substantially all of our customer
contracts, we have the right to adjust at any time the price we charge for our power services to allow us to recover increases in the unit price we pay.

We hold title to the AMS3, AMS6, BRU1, CPH2, FRA8, MRS1, PAR3 and PAR5 properties, and we have exercised the options and agreed to purchase
the PAR7 freehold land on which we own the PAR7 data center, and the AMS7 and VIE freehold land and properties. As of December 31, 2014, the AMS7, PAR7 and VIE properties are reported as financial leases. In January 2015, we completed the
acquisition of the VIE properties, and terminated the VIE financial lease. The VIE properties will continue to be reported as assets in future periods. The PAR7 and AMS7 properties are currently reported as financial leases, and they will be
reported as such until the acquisitions complete. For the leased properties on which our data centers are located, we generally seek to secure property leases for terms of 20 to 25 years. Where possible, we try to mitigate the long-term financial
commitment by contracting for initial lease terms for a minimum period of 10 to 15 years with the option for us to either (i) extend the leases for additional five-year terms or (ii) terminate the leases upon expiration of the initial 10
to 15 year term. Our leases generally have consumer price index based annual rent increases over the full term of the lease.

Larger
increases in our property costs occur when we bring new data centers into service. Bringing new data centers into service also has the effect of temporarily reducing our overall Utilization Rate while the utilization of the new data center increases
as we sell to customers.

In addition, we enter into annual maintenance contracts with our major plant and equipment suppliers. This cost
increases as new maintenance contracts are entered into in support of new data center operations.



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Operating Leverage

Due to the relatively fixed nature of our costs, we generally experience margin expansion as our Utilization Rate at existing data centers
increases. Our margins and the rate of margin expansion will vary based upon the scope and scale of our capacity expansions, which affects our overall Utilization Rate.

EBITDA, Adjusted EBITDA and Adjusted EBITDA margin

We present EBITDA, Adjusted EBITDA and Adjusted EBITDA margin as additional information because we understand that they are measures used by
certain investors and because they are used in our financial covenants in our 100.0 million Revolving Facility Agreement and the 475.0 million 6.0% Senior Secured Notes due 2020. However, other companies may present EBITDA,
Adjusted EBITDA and Adjusted EBITDA margin differently than we do. EBITDA, Adjusted EBITDA and Adjusted EBITDA margin are not measures of financial performance under IFRS and should not be considered as an alternative to operating profit or as a
measure of liquidity or an alternative to net income as indicators of our operating performance or any other measure of performance derived in accordance with IFRS.

EBITDA is defined as operating profit plus depreciation, amortization and impairment of assets. We define Adjusted EBITDA as EBITDA adjusted
to exclude share-based payments, increase/decrease in provision for onerous lease contracts, transaction costs and income from sub-leases on unused data center sites. Adjusted EBITDA margin is defined as Adjusted EBITDA as a percentage of revenue.

Onerous lease contracts are those in which we expect losses to be incurred in respect of unused data center sites over the term of the
lease contract. Provisions for these leases are based upon the present value of the future contracted payout under these leases, and movements in the provision for onerous lease contracts are reflected on our income statement. We sublease portions
of these unused sites to third parties and treat the income from these subleases as other income.

The provision for onerous lease
contracts principally relates to two unused data center sites in Germany, one in Munich terminating in March 2016 and one in Dusseldorf terminating in August 2016.

Transaction costs represents expenses associated with the write off of the proportion of the IPO costs allocated to the selling
shareholders at the Initial Public Offering in 2011, and represents expenses incurred following M&A activities.

Net Finance Expense

Towards the end of 2006, we started an expansion program of our data centers based on customer demand. This expansion program, closely matched
to both customer demand and available capital resources, has continued since that time. We do not commit to a phase of an expansion or construction of a data center unless we have cash and committed capital available to complete the phase. Since
2006, we have raised debt capital to fund our expansion program, and this has contributed to increases in our finance expense. During the period of construction of a data center, we capitalize the borrowing costs as part of the construction costs of
the data center. We refinanced the Companys debt in February 2010 when we issued 200 million of 9.5% senior secured notes, which was primarily used to repay existing debt, and a further tap offering of 60 million in
November 2010. In 2013, we issued 325 million of 6.0% senior secured notes. The proceeds were used to purchase, redeem and discharge the 260 million of 9.5% senior secured notes, pay fees and expenses incurred in connection
with the refinancing, and for other general corporate purposes. In April 2014, we further improved our funding to support growth by issuing 150 million of 6.00% senior secured notes. The additional financing, combined with a new
9.2 million mortgage for our BRU1 data center secured in 2014, was used to repay amounts drawn under our revolving facility and to fund further expansion projects.

In the year ended December 31, 2014, our net finance expense primarily consisted of interest expense of 26.3 million,
refinancing expenses of 0.6 million and interest income of 0.9 million. For the full year 2013, our net finance expense primarily consisted of interest expense of 24.6 million, refinancing expenses of
31.0 million and interest income of 0.5 million. For the full year 2012, the major components of net finance expense consisted of interest expense of 17.2 million and interest income of 0.9 million. The increase in
net finance expense for the year ended December 31, 2014 was due primarily to the Additional Notes issued 150.0 million partly offset by increased capitalization of borrowing costs during the construction of new data center space. We
capitalized 3.6 million of borrowing costs during the period of construction of new data center space in the year ended December 31, 2014 and 1.7 million in the year ended December 31, 2013. The increase in net
finance expense for the year ended December 31, 2013 was due primarily to 31.0 million of refinancing expenses incurred as well as decreased capitalization of borrowing costs during the construction of new data center space. We
capitalized 1.7 million of borrowing costs during the period of construction of new data center space in the year ended December 31, 2013 and 9.2 million in the year ended December 31, 2012.



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We discuss our capital expenditures, including intangible assets and our capital expansion
program below in Liquidity and Capital Resources.

Income Tax Expense

Since inception we have generated significant tax loss carry forwards in all of our jurisdictions. In 2006, we became taxable income positive
and began offsetting our tax loss carry forwards against taxable profits. As of December 31, 2014 we have recognized most of our tax loss carry forwards. We will continue to recognize the remaining deferred tax loss carry forwards progressively
as we become profitable in the respective jurisdictions. We expect to be able to continue to use our tax loss carry forwards to minimize cash taxes going forward.

Segment Reporting

We report our
financials in two segments, which we have determined based on our management and internal reporting structure: the first being France, Germany, The Netherlands and UK and the second being the Rest of Europe, which comprises our operations in
Austria, Belgium, Denmark, Ireland, Spain, Sweden and Switzerland. Segment results, assets and liabilities include items directly attributable to a segment as well as those that can be allocated on a reasonable basis. Unallocated items are presented
as corporate and other and comprise mainly general and administrative expenses, assets and liabilities associated with our headquarters operations, provisions for onerous contracts (relating to the discounted amount of future losses
expected to be incurred in respect of unused data center sites over the term of the relevant leases, as further explained below) and revenue and expenses related to those onerous contracts, loans and borrowings and related expenses and income tax
assets and liabilities. Segment capital expenditure, including intangible assets is the total cost directly attributable to a segment incurred during the period to acquire property, plant and equipment.



42



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Results of Operations

The following table presents our operating results for the years ended December 31, 2014, 2013 and 2012:



|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|------------------------------------------------------------ |  | -------------------------------------- | -------- | - | --------------------------------- |  | -------- | ---- |  |  | -------- | - |  |  | -------- | -
|                                                             |  | Year endedDecember 31,                 |          |   | Year ended December 31,           | 
|                                                             |  | 2014(1)                                |          |   | 2014                              |  |          | 2013 |  |  | 2012     |  
|                                                             |  | (U.S. $000,
except per
share amounts) |          |   | (000, except per share amounts) | 
|Revenue                                                      |  |                                        | 412,189  |   |                                   |  | 340,624  |      |  |  | 307,111  |   |  |  | 277,121  |  
|Cost of sales                                                |  |                                        | (168,295 | ) |                                   |  | (139,075 | )    |  |  | (124,141 | ) |  |  | (113,082 | )
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Gross profit                                                 |  |                                        | 243,894  |   |                                   |  | 201,549  |      |  |  | 182,970  |   |  |  | 164,039  |  
|Other Income                                                 |  |                                        | 328      |   |                                   |  | 271      |      |  |  | 341      |   |  |  | 463      |  
|Sales and marketing costs                                    |  |                                        | (29,709  | ) |                                   |  | (24,551  | )    |  |  | (22,818  | ) |  |  | (20,100  | )
|General and administrative costs                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Depreciation, amortization and impairments                   |  |                                        | (75,240  | ) |                                   |  | (62,177  | )    |  |  | (57,670  | ) |  |  | (43,993  | )
|Share-based payments                                         |  |                                        | (7,958   | ) |                                   |  | (6,576   | )    |  |  | (4,149   | ) |  |  | (5,488   | )
|(Increase)/decrease in provision for onerous lease contracts |  |                                        | 974      |   |                                   |  | 805      |      |  |  |         |   |  |  | (838     | )
|M&A transaction costs                                        |  |                                        | (393     | ) |                                   |  | (325     | )    |  |  |         |   |  |  |         |  
|Other general and administrative costs                       |  |                                        | (37,042  | ) |                                   |  | (30,611  | )    |  |  | (28,315  | ) |  |  | (28,924  | )
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|General and administrative costs                             |  |                                        | (119,659 | ) |                                   |  | (98,884  | )    |  |  | (90,134  | ) |  |  | (79,243  | )
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Operating profit                                             |  |                                        | 94,854   |   |                                   |  | 78,385   |      |  |  | 70,359   |   |  |  | 65,159   |  
|Net finance expense                                          |  |                                        | (33,733  | ) |                                   |  | (27,876  | )    |  |  | (57,453  | ) |  |  | (17,746  | )
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Profit before taxation                                       |  |                                        | 61,121   |   |                                   |  | 50,509   |      |  |  | 12,906   |   |  |  | 47,413   |  
|Income tax expense                                           |  |                                        | (18,695  | ) |                                   |  | (15,449  | )    |  |  | (6,082   | ) |  |  | (15,782  | )
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Profit for the year attributable to shareholders             |  |                                        | 42,426   |   |                                   |  | 35,060   |      |  |  | 6,824    |   |  |  | 31,631   |  
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Basic earnings per share                                     |  |                                        | 0.61     |   |                                   |  | 0.51     |      |  |  | 0.10     |   |  |  | 0.47     |  
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Adjusted EBITDA (2)                                          |  |                                        | 177,143  |   |                                   |  | 146,387  |      |  |  | 131,837  |   |  |  | 115,015  |  

The following table presents our operating results as a percentage of revenues for the years ended
December 31, 2014, 2013 and 2012:



|                                                             |  |                         |     |   |      |  |     |      |  |  |     |  
|------------------------------------------------------------ |  | ----------------------- | --- | - | ---- |  | --- | ---- |  |  | --- | -
|                                                             |  | Year ended December 31, |    
|                                                             |  | 2014                    |     |   | 2013 |  |     | 2012 | 
|Revenue                                                      |  |                         | 100 | % |      |  | 100 | %    |  |  | 100 | %
|Cost of sales                                                |  |                         | (41 | ) |      |  | (40 | )    |  |  | (41 | )
|                                                             |  |                         |     |   |      |  |     |      |  |  |     |  
|Gross profit                                                 |  |                         | 59  |   |      |  | 60  |      |  |  | 59  |  
|Other income                                                 |  |                         | 0   |   |      |  | 0   |      |  |  | 0   |  
|Sales and marketing costs                                    |  |                         | (7  | ) |      |  | (7  | )    |  |  | (7  | )
|General & administrative costs                               |  |                         |     |   |      |  |     |      |  |  |     |  
|Depreciation, amortization and impairments                   |  |                         | (18 | ) |      |  | (19 | )    |  |  | (16 | )
|Share-based payments                                         |  |                         | (2  | ) |      |  | (1  | )    |  |  | (2  | )
|Increase/(decrease) in provision for onerous lease contracts |  |                         | 0   |   |      |  | 0   |      |  |  | 0   |  
|Other general and administrative costs                       |  |                         | (9  | ) |      |  | (9  | )    |  |  | (10 | )
|                                                             |  |                         |     |   |      |  |     |      |  |  |     |  
|General and administrative costs                             |  |                         | (29 | ) |      |  | (29 | )    |  |  | (29 | )
|                                                             |  |                         |     |   |      |  |     |      |  |  |     |  
|Operating profit                                             |  |                         | 23  |   |      |  | 23  |      |  |  | 24  |  
|Net finance expense                                          |  |                         | (8  | ) |      |  | (19 | )    |  |  | (6  | )
|                                                             |  |                         |     |   |      |  |     |      |  |  |     |  
|Profit before taxation                                       |  |                         | 15  |   |      |  | 4   |      |  |  | 17  |  
|Income tax expense                                           |  |                         | (5  | ) |      |  | (2  | )    |  |  | (6  | )
|                                                             |  |                         |     |   |      |  |     |      |  |  |     |  
|Profit for the year attributable to shareholders             |  |                         | 10  | % |      |  | 2   | %    |  |  | 11  | %
|                                                             |  |                         |     |   |      |  |     |      |  |  |     |  
|Adjusted EBITDA margin(2)                                    |  |                         | 43  | % |      |  | 43  | %    |  |  | 42  | %



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Notes:

|(1) | The operating results for the year ended December 31, 2014 have been translated for convenience only based on the noon buying rate in The City of New York for cable transfers of euro as certified for customs
purposes by the Federal Reserve Bank of New York as of December 31, 2014 and for euro into U.S. dollars of 1.00 = U.S. 1.2101. See Item 3 Key InformationExchange Rate Information for additional information.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(2) | EBITDA is defined as operating profit plus depreciation, amortization and impairment of assets. We define Adjusted EBITDA as EBITDA adjusted to exclude share-based payments, increase/decrease in provision for onerous
lease contracts, transaction costs and income from sub-leases on unused data center sites. Adjusted EBITDA margin is defined as Adjusted EBITDA as a percentage of revenue. We present EBITDA, Adjusted EBITDA and Adjusted EBITDA margin as additional
information because we understand that they are measures used by certain investors and because they are used in our financial covenants in our 100 million Revolving Facility Agreement and 475 million 6.00% Senior Secured Notes
due 2020. Other companies, however, may present EBITDA, Adjusted EBITDA and Adjusted EBITDA margin differently than we do. EBITDA, Adjusted EBITDA and Adjusted EBITDA margin are not measures of financial performance under IFRS and should not be
considered as an alternative to operating profit or as a measure of liquidity or an alternative to net income as indicators of our operating performance or any other measure of performance derived in accordance with IFRS. See EBITDA and
Adjusted EBITDA for a more detailed description.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The following table presents a reconciliation of Profit for the year
attributable to shareholders to EBITDA and EBITDA to Adjusted EBITDA, for the periods indicated:



|                                                                |  |                        |         |   |                         |  |         |      |  |  |         |   |  |  |         |  
|--------------------------------------------------------------- |  | ---------------------- | ------- | - | ----------------------- |  | ------- | ---- |  |  | ------- | - |  |  | ------- | -
|                                                                |  | Year endedDecember 31, |         |   | Year ended December 31, | 
|                                                                |  | 2014(1)*               |         |   | 2014                    |  |         | 2013 |  |  | 2012    |  
|                                                                |  | (U.S. $000)           |         |   | (000)                 | 
|Other financial data                                            |  |                        |         |   |                         |  |         |      |  |  |         |   |  |  |         |  
|Profit for the year attributable to shareholders                |  |                        | 42,426  |   |                         |  | 35,060  |      |  |  | 6,824   |   |  |  | 31,631  |  
|Income tax expense                                              |  |                        | 18,695  |   |                         |  | 15,449  |      |  |  | 6,082   |   |  |  | 15,782  |  
|                                                                |  |                        |         |   |                         |  |         |      |  |  |         |   |  |  |         |  
|Profit before taxation                                          |  |                        | 61,121  |   |                         |  | 50,509  |      |  |  | 12,906  |   |  |  | 47,413  |  
|Net finance expense                                             |  |                        | 33,733  |   |                         |  | 27,876  |      |  |  | 57,453  |   |  |  | 17,746  |  
|                                                                |  |                        |         |   |                         |  |         |      |  |  |         |   |  |  |         |  
|Operating profit                                                |  |                        | 94,854  |   |                         |  | 78,385  |      |  |  | 70,359  |   |  |  | 65,159  |  
|Depreciation, amortization and impairments                      |  |                        | 75,240  |   |                         |  | 62,177  |      |  |  | 57,670  |   |  |  | 43,993  |  
|                                                                |  |                        |         |   |                         |  |         |      |  |  |         |   |  |  |         |  
|EBITDA                                                          |  |                        | 170,094 |   |                         |  | 140,562 |      |  |  | 128,029 |   |  |  | 109,152 |  
|Share-based payments                                            |  |                        | 7,958   |   |                         |  | 6,576   |      |  |  | 4,149   |   |  |  | 5,488   |  
|Increase/(decrease) in provision for onerous lease contracts(a) |  |                        | (974    | ) |                         |  | (805    | )    |  |  |        |   |  |  | 838     |  
|M&A transaction costs                                           |  |                        | 393     |   |                         |  | 325     |      |  |  |        |   |  |  |        |  
|Income from sub-leases on unused data center sites              |  |                        | (328    | ) |                         |  | (271    | )    |  |  | (341    | ) |  |  | (463    | )
|                                                                |  |                        |         |   |                         |  |         |      |  |  |         |   |  |  |         |  
|Adjusted
EBITDA(2)*                                             |  |                        | 177,143 |   |                         |  | 146,387 |      |  |  | 131,837 |   |  |  | 115,015 |  
|                                                                |  |                        |         |   |                         |  |         |      |  |  |         |   |  |  |         |  



Notes:

|* | References are to the footnotes above.
|- | --------------------------------------

|(a) | Increase/(decrease) in provision for onerous lease contracts does not reflect the deduction of income from subleases on unused data center sites.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------

The following table sets forth some of our key performance indicators as of the dates indicated:



|                                  |  |                    |        |  |      |  |        |      |  |  |        | 
|--------------------------------- |  | ------------------ | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                                  |  | As of December 31, |       
|                                  |  | 2014               |        |  | 2013 |  |        | 2012 | 
|Equipped Space(1) (square meters) |  |                    | 93,500 |  |      |  | 80,100 |      |  |  | 74,000 | 
|Utilization Rate(2)(%)            |  |                    | 76     |  |      |  | 75     |      |  |  | 76     | 



Notes:

|(1) | Equipped Space is the amount of data center space that, on the date indicated, is equipped and either sold or could be sold, without making any
additional investments to common infrastructure. Equipped Space at a particular data center may decrease if either (a) the power requirements of customers at such data center change so that all or a portion of the remaining
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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| | space can no longer be sold as the space does not have enough power and/or common infrastructure to support it without further investment or (b) if the design and layout of a data center
changes to meet among others, fire regulations or customer requirements, and necessitates the introduction of common space which cannot be sold to individual customers, such as corridors.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(2) | Utilization Rate is, on the relevant date, Revenue Generating Space as a percentage of Equipped Space; some Equipped Space is not fully utilized due to customers specific requirements regarding the layout of their
equipment. In practice, therefore, Utilization Rate may not reach 100%.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Years Ended December 31, 2014 and 2013

Revenue

Our revenue for the years ended
December 31, 2014 and 2013 was as follows:



|                      |  |                             |         |  |        |  |     |      |  |  |         |  |  |   |     |  |   |  |        |  |  |  |    | 
|--------------------- |  | --------------------------- | ------- |  | ------ |  | --- | ---- |  |  | ------- |  |  | - | --- |  | - |  | ------ |  |  |  | -- | 
|                      |  | Year ended December 31,     |         |  | Change | 
|                      |  | 2014                        |         |  | %      |  |     | 2013 |  |  | %       |  |  |  |     |  | % | 
|                      |  | (000, except percentages) |         |  |        |  |     |      | 
|Revenue               |  |                             |         |  |        |  |     |      |  |  |         |  |  |   |     | 
|Recurring revenue     |  |                             | 319,184 |  |        |  | 94  |      |  |  | 291,274 |  |  |   | 95  |  |   |  | 27,910 |  |  |  | 10 | 
|Non-recurring revenue |  |                             | 21,440  |  |        |  | 6   |      |  |  | 15,837  |  |  |   | 5   |  |   |  | 5,603  |  |  |  | 35 | 
|                      |  |                             |         |  |        |  |     |      |  |  |         |  |  |   |     |  |   |  |        |  |  |  |    | 
|                      |  |                             | 340,624 |  |        |  | 100 |      |  |  | 307,111 |  |  |   | 100 |  |   |  | 33,513 |  |  |  | 11 | 
|                      |  |                             |         |  |        |  |     |      |  |  |         |  |  |   |     |  |   |  |        |  |  |  |    | 

Revenue increased to 340.6 million for the year ended December 31, 2014 from
307.1 million for the year ended December 31, 2013, an increase of 11%. Recurring revenue increased by 10% and non-recurring revenue increased by 35% from the year ended December 31, 2013 to the year ended December 31,
2014. The period over period growth in recurring revenue was primarily the result of an increase of approximately 11,300 square meters in Revenue Generating Space as a result of sales to both existing and new customers in all of our regions.

Cost of Sales

Cost of sales increased to
139.1 million for the year ended December 31, 2014 from 124.1 million for the year ended December 31, 2013, an increase of 12%. Cost of sales was 41% of revenue for the year ended December 31, 2014 and 40% for
the year ended December 31, 2013. The increase in cost of sales was due to increased costs associated with our overall revenue growth and data center expansion projects, including (i) an increase of 5.1 million in energy usage
costs and (ii) an increase of 4.9 million in installation costs. Equipped Space increased by approximately 13,400 square meters during the year ended December 31, 2014 as a result of expansions to existing data centers in
London, Brussels, Stockholm and Zurich, the construction of new data centers in Frankfurt, Amsterdam, Vienna and Stockholm and the acquisition of a data center in Marseille. We expect cost of sales as a percentage of revenue to decrease as we
increase utilization at our existing facilities. This decrease may be offset by the impact of lower utilization in new data centers we open as part of our data center expansion projects.

Other Income

Other income represents
income that we do not consider part of our core business. It includes income from the subleases on unused data center sites.

Sales and Marketing Costs

Our sales and marketing costs increased to 24.6 million for the year ended December 31, 2014 from
22.8 million for the year ended December 31, 2013, an increase of 8%. Sales and marketing costs were 7% of revenue for each of the years ended December 31, 2014 and 2013.

The increase in sales and marketing costs was primarily a result of an increase of 1.2 million in compensation and related costs
due to increases in employee headcount and marketing expenses associated with our continued strategy to invest in our industry focused customer development and acquisition approach.



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General and Administrative Costs

General and administrative costs consist of depreciation, amortization and impairments, share-based payments, increase/(decrease) in provision
for onerous lease contracts and other general and administrative costs.

Depreciation, amortization and impairments increased to
62.2 million for the year ended December 31, 2014 from 57.7 million for the year ended December 31, 2013, an increase of 8%. Depreciation, amortization and impairments was 18% of revenue for the year ended
December 31, 2014 and 19% for the year ended December 31, 2013. The increase was a result of new data centers and data center expansions, partly offset by lower depreciation charges attributable to a change in the estimated useful life of
certain assets. In the fourth quarter of the year ended December 31, 2013, the Company completed its annual review of the estimated useful life of its property, plant and equipment. As a result of this review, the Company concluded that certain
of its existing assets were in use longer than originally anticipated. Therefore, the estimated useful life of certain of our property, plant and equipment was extended effective October 1, 2013. On an annualised basis for the year 2013, the
depreciation charges on a like for like basis would have been approximately 8 million lower.

In determining Adjusted EBITDA we
add back share-based payments. For the year ended December 31, 2014 we recorded share-based payments of 6.6 million, an increase of 58% from the year ended December 31, 2013. The increase is primarily due to new grants of
options, restricted shares and performance shares in 2014. In determining Adjusted EBITDA we also add back increase/(decrease) in provision for onerous lease contracts. Following our annual review of the provision for onerous lease contracts, the
Company decreased the provision by 0.8 million while in 2013, the provision remained unchanged.

Other general and
administrative costs increased to 30.6 million for the year ended December 31, 2014 from 28.3 million for the year ended December 31, 2013, an increase of 8%. Other general and administrative costs were 9% of revenue
for the years ended December 31, 2014 and December 31, 2013. The increase in the other general and administrative costs was due to both an increase of 1.5 million in compensation costs principally resulting from an increase in
salaries associated with an increased headcount and higher external hires and to an increase in the costs for professional advisory services.

Net
Finance Expense

Net finance expense decreased to 27.9 million for the year ended December 31, 2014 from
57.5 million for the year ended December 31, 2013, a decrease of 51%. Net finance expense was 8% of revenue for the year ended December 31, 2014 and 19% of revenue for the year ended December 31, 2013. The decrease in net
finance expense for the year ended December 31, 2014 was due primarily to 31.0 million in costs incurred in 2013 related to the refinancing of our debt and higher capitalization of borrowing costs, partly offset by higher interest
charges following the issue of 150.0 million Additional Notes in April 2014. We capitalized 3.6 million of borrowing costs during the period of construction of new data center space in the year ended December 31, 2014
compared to 1.7 million in the year ended December 31, 2013.

Income Taxes

Income tax expense was 15.4 million for the year ended December 31, 2014 compared to 6.1 million for the year ended
December 31, 2013. Income tax expense was 5% of revenue for the year ended December 31, 2014 and 2% of revenue for the year ended December 31, 2013. The increase in income tax expenses was primarily due to an increase in profit before
tax in 2014 as a result of the one-time 31.0 million debt refinancing costs incurred in 2013, resulting in a 7.8 million negative tax impact in the year ended December 31, 2014. The effective income tax rate of 31% in the
year ended December 31, 2014, compared to 47% for the year ended December 31, 2013, was positively impacted by the tax effect, on the 31.0 million refinancing costs, included in the 2013 tax charge as a credit but at a lower
than average tax rate.

We recorded current tax expenses of 8.9 million for the year ended December 31, 2014 and
7.9 million for the year ended December 31, 2013. We recorded deferred tax expense of 6.5 million for the year ended December 31, 2014 and deferred tax income of 1.8 million for the year ended
December 31, 2013. Deferred tax is charged for the annual movements in temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.

The deferred tax income in the year ended December 31, 2013, was principally due to the pre-tax refinancing costs of
31.0 million, which created a taxable loss.



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Years Ended December 31, 2013 and 2012

Revenue

Our revenue for the years ended
December 31, 2013 and 2012 was as follows:



|                      |  |                             |         |  |        |  |     |      |  |  |         |  |  |   |     |  |   |  |        |   |  |  |     |  
|--------------------- |  | --------------------------- | ------- |  | ------ |  | --- | ---- |  |  | ------- |  |  | - | --- |  | - |  | ------ | - |  |  | --- | -
|                      |  | Year ended December 31,     |         |  | Change | 
|                      |  | 2013                        |         |  | %      |  |     | 2012 |  |  | %       |  |  |  |     |  | % | 
|                      |  | (000, except percentages) |         |  |        |  |     |      | 
|Revenue               |  |                             |         |  |        |  |     |      |  |  |         |  |  |   |     | 
|Recurring revenue     |  |                             | 291,274 |  |        |  | 95  |      |  |  | 259,249 |  |  |   | 94  |  |   |  | 32,025 |   |  |  | 12  |  
|Non-recurring revenue |  |                             | 15,837  |  |        |  | 5   |      |  |  | 17,872  |  |  |   | 6   |  |   |  | (2.035 | ) |  |  | (11 | )
|                      |  |                             |         |  |        |  |     |      |  |  |         |  |  |   |     |  |   |  |        |   |  |  |     |  
|                      |  |                             | 307,111 |  |        |  | 100 |      |  |  | 277,121 |  |  |   | 100 |  |   |  | 29,990 |   |  |  | 11  |  
|                      |  |                             |         |  |        |  |     |      |  |  |         |  |  |   |     |  |   |  |        |   |  |  |     |  

Revenue increased to 307.1 million for the year ended December 31, 2013 from
277.1 million for the year ended December 31, 2012, an increase of 10%. Recurring revenue increased by 12% and non-recurring revenue increased by 11% from the year ended December 31, 2012 to the year ended December 31,
2013. The period over period growth in recurring revenue was primarily the result of an increase of approximately 3,500 square meters in Revenue Generating Space as a result of sales to both existing and new customers in all of our regions.

Cost of Sales

Cost of sales increased to
124.1 million for the year ended December 31, 2013 from 113.1 million for the year ended December 31, 2012, an increase of 10%. Cost of sales was 40% of revenue for the year ended December 31, 2013 and 41% for
the year ended December 31, 2012. The increase in cost of sales was due to increased costs associated with our overall revenue growth and data center expansion projects, including (i) an increase of 5.5 million in energy usage
costs, and (ii) an increase of 5.2 million in compensation costs. Equipped Space increased by approximately 6,100 square meters during the year ended December 31, 2013 as a result of expansions to existing data centers in
Frankfurt, London, Copenhagen, Vienna and Zurich and to the construction of new data centers in Stockholm, Paris and Madrid. We expect cost of sales as a percentage of revenue to decrease as we increase utilization at our existing facilities. This
decrease may be offset by the impact of lower utilization in new data centers we open as part of our data center expansion projects.

Other Income

Other income represents income that we do not consider part of our core business. It includes income from the subleases on unused data
center sites.

Sales and Marketing Costs

Our sales and marketing costs increased to 22.8 million for the year ended December 31, 2013 from 20.1 million for
the year ended December 31, 2012, an increase of 14%. Sales and marketing costs were 7% of revenue for each of the years ended December 31, 2013 and 2012.

The increase in sales and marketing costs was primarily a result of an increase of 1.5 million in compensation and related costs
due to increases in employee headcount and marketing expenses associated with our continued strategy to invest in our industry focused customer development and acquisition approach.

General and Administrative Costs

General
and administrative costs consist of depreciation, amortization and impairments, share-based payments, increase/(decrease) in provision for onerous lease contracts and other general and administrative costs.

Depreciation, amortization and impairments increased to 57.7 million for the year ended December 31, 2013 from
44.0 million for the year ended December 31, 2012, an increase of 31%. Depreciation, amortization and impairments was 19% of revenue for the year ended December 31, 2013 and 16% for the year ended December 31, 2012. The
increase was a result of new data centers and data center expansions. The increase was partly offset by 2.0 million attributable to a change in the estimated useful life of certain assets. In the fourth quarter of the year ended
December 31, 2013, the Company completed its annual review of the estimated useful life of its property, plant and equipment. As a result of this review, the Company concluded that certain of



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its existing assets were in use longer than originally anticipated. Therefore, the estimated useful life of certain of our property, plant and equipment has been extended. This change was
accounted for as a change in accounting estimate on a prospective basis effective October 1, 2013 under IAS 8 change in accounting estimates.

In determining Adjusted EBITDA we add back share-based payments. For the year ended December 31, 2013 we recorded share-based payments of
4.1 million, a decrease of 24% from the year ended December 31, 2012. The decrease was primarily due to a 1.3 million lower crisis wage tax payable. In the years ended December 31, 2013 and 2012, we were adversely
impacted by a one-time crisis wage tax in The Netherlands. Initially this new tax was introduced as a one-time crisis wage tax, however, we were subject to this crisis tax again in the year ended December 31, 2013. Amounts payable
in connection with the crisis wage tax is included in share-based payments with respect to options exercised during the period. Amounts payable in connection with the crisis wage tax included in the share-based payments over options exercised were
0.2 million in the year ended December 31, 2013 and 1.5 million in the year ended December 31, 2012. In determining Adjusted EBITDA we also add back increase/(decrease) in provision for onerous lease contracts.
Following our annual review of the provision for onerous lease contracts the provision remained unchanged, while in 2012, the Company reassessed and increased its provision by 0.8 million.

Other general and administrative costs decreased to 28.3 million for the year ended December 31, 2013 from
28.9 million for the year ended December 31, 2012, a decrease of 2%. Other general and administrative costs were 9% of revenue for the year ended December 31, 2013 and 10% for the year ended December 31, 2012. The decrease
in the other general and administrative costs was due to a decrease of 0.6 million in compensation costs principally resulting from lower bonus, recruitment and severance expenses, which were partly offset by an increase in salaries
associated with an increased headcount.

Net Finance Expense

Net finance expense increased to 57.5 million for the year ended December 31, 2013 from 17.7 million for the year
ended December 31, 2012, an increase of 224%. Net finance expense was 19% of revenue for the year ended December 31, 2013 and 6% of revenue for the year ended December 31, 2012. The increase in net finance expense for the year ended
December 31, 2013 was due primarily to 31.0 million in costs related to the refinancing and the decreased capitalization of borrowing costs during the period of construction of new data center space. We capitalized
1.7 million of borrowing costs during the period of construction of new data center space in the year ended December 31, 2013 compared to 9.2 million in the year ended December 31, 2012. The decrease in capitalization
of borrowing costs during the period of construction of new data center space was principally due to decreased average amounts invested and capitalization at a lower interest rate for the period after the refinancing on July 3, 2013.

Income Taxes

Income tax expense was
6.1 million for the year ended December 31, 2013 compared to 15.8 million for the year ended December 31, 2012. Income tax expense was 2% of revenue for the year ended December 31, 2013 and 6% of revenue for the
year ended December 31, 2012. The decrease in income tax expenses was primarily due to a decrease in profit before tax as a result of the 31.0 million in debt refinancing costs and the impact of changes in tax rates, resulting in a
0.3 million positive tax impact in the year ended December 31, 2013 and 1.0 million positive tax impact in the year ended December 31, 2012. The effective income tax rate of 47% in the year ended December 31,
2013, compared to 33% for the year ended December 31, 2012, was adversely impacted by the tax effect, on the 31.0 million refinancing costs, included in the tax charge as a credit but at a lower than average tax rate.

We recorded current tax expenses of 7.9 million for the year ended December 31, 2013 and 6.2 million for the year
ended December 31, 2012. We recorded deferred tax income of 1.8 million for the year ended December 31, 2013 and deferred tax expense of 9.6 million for the year ended December 31, 2012 arising from the net
impact of the recognition and utilization of deferred tax assets on tax loss carry-forwards as well as the movements in temporary differences. Deferred tax is charged for the annual movements in temporary differences between the carrying amounts of
assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.

The deferred tax income in the year
ended December 31, 2013, was principally due to the pre-tax refinancing costs of 31.0 million, which created a taxable loss.

Liquidity
and Capital Resources

As of December 31, 2014, our total indebtedness consisted of (i) 475.0 million 6.00% Senior
Secured Notes due 2020, (ii) other debt and finance lease obligations totaling 54.5 million and (iii) mortgages totaling 32.0 million. The borrowing requirements of the Company are not subject to significant seasonality.
Under our Revolving Facility, interest is based on a



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floating rate index. The interest expense on the remainder of our outstanding indebtedness is based on a fixed rate, except for our mortgages. Our PAR3, PAR5, BRU1, AMS3 and AMS6 mortgages are
subject to a floating interest rate of EURIBOR plus an individual margin ranging from 240 to 280 basis points. The interest rates on the mortgages secured by our PAR3 and PAR5 properties have been swapped to a fixed rate for approximately 75% of the
principal outstanding amounts for a period of 10 years.

As of December 31, 2014, the interest payable under the Revolving Facility
on (i) any EUR amounts drawn would be at the rate of EURIBOR plus 350 basis points per annum, (ii) any Danish Kroner amounts drawn would be at the rate of CIBOR plus 350 basis points per annum, (iii) any Swedish Krona amounts drawn
would be at the rate of STIBOR plus 350 basis points per annum and (iv) other applicable currencies including GBP amounts drawn at the rate of LIBOR plus 350 basis points per annum. The Revolving Facility was undrawn as of December 31,
2014.

Historically, we have made significant investments in our property, plant and equipment and intangible assets in order to expand
our data center footprint and total Equipped Space as we have grown our business. In the year ended December 31, 2014 we invested 216.3 million in property, plant and equipment (213.0 million) and intangible assets (3.3
million), of which 198.7 million, including acquisition of MRS1 data center (8 million), was attributed to expansion capital expenditures and the remainder was attributed to maintenance and other capital expenditures. In the year
ended December 31, 2013 we invested 143.4 million in property, plant and equipment (140.3 million) and intangible assets (3.1 million), of which 135.1 million, including acquisition of AMS 3 data center
(8.8 million), was attributed to expansion capital expenditures and the remainder was attributed to maintenance and other capital expenditures. In the year ended December 31, 2012 we invested 178.3 million in property, plant
and equipment (172.0 million) and intangible assets (6.3 million), of which 164.7 million, including acquisition of AMS 6 data center (7.5 million), was attributed to expansion capital expenditures and the remainder was
attributed to maintenance and other capital expenditures.

Although in any one year the amount of maintenance and replacement capital
expenditures may vary, we expect that long-term such expenses will be between 4% and 6% of total revenue.

As of December 31, 2014,
we had 99.9 million of cash and cash equivalents of which 5.3 million was restricted cash, mostly denominated in euro. Restricted cash is held as collateral to support the issuance of bank guarantees on behalf of a number of
subsidiary companies. As of December 31, 2013, we had 45.7 million of cash and cash equivalents of which 4.1 million was restricted cash, mostly denominated in euro.

A limited amount of the Companys total cash balance may be subject to certain restrictions in select countries that cannot be
repatriated without a tax implication. The amount of cash that cannot be repatriated without a tax implication is negligible to the total liquidity of our business.

As of December 31, 2014 our 100.0 million Revolving Facility remained undrawn.

On March 9, 2015, we entered into the Implementation Agreement with TelecityGroup. See Item 4. Information on the CompanyOur
History and Organizational Structure. Pursuant to the Implementation Agreement, we are, among other things, restricted in our ability to: (i) create, allot, issue, redeem or repurchase any share, loan capital or other security;
(ii) declare, make or pay dividends or other distributions; (iii) borrow any money (other than by bank overdraft or similar facility or revolving loan facility in the ordinary course of business) and enter into certain derivative
instruments; (iv) incur, with respect to 2015 only, any capital expenditure in excess of an aggregate amount of GBP 10 million in any consecutive six-month period, unless such expenditure is foreseen in: (A) any published guidance given to
investors prior to the date of this Agreement; or (B) a business plan, budget or other planning document adopted before February 11, 2015; (v) grant loans and financial facilities or modify the terms of existing loans and financial facilities
for the benefit of any person; and (vi) make certain acquisitions or dispositions.

Sources and Uses of Cash



|                                            |  |                         |          |   |      |  |          |      |  |  |          |  
|------------------------------------------- |  | ----------------------- | -------- | - | ---- |  | -------- | ---- |  |  | -------- | -
|                                            |  | Year ended December 31, |         
|                                            |  | 2014                    |          |   | 2013 |  |          | 2012 | 
|                                            |  | (000)                 |         
|Cash generated from operations              |  |                         | 135,418  |   |      |  | 102,671  |      |  |  | 111,701  |  
|                                            |  |                         |         
|Net cash flows from operating activities    |  |                         | 104,418  |   |      |  | 72,563   |      |  |  | 89,082   |  
|Net cash flows used in investing activities |  |                         | (217,927 | ) |      |  | (143,381 | )    |  |  | (179,105 | )
|Net cash flows from financing activities    |  |                         | 167,628  |   |      |  | 47,911   |      |  |  | 15,883   |  



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Net cash flows from operating activities

The increase in net cash flows from operating activities in the year ended December 31, 2014 compared to the year ended December 31,
2013 was primarily due to our improved operating performance and improved net working capital movements. The decrease in net cash flows from operating activities in the year ended December 31, 2013 compared to the year ended December 31,
2012 was primarily due to higher interest and income tax payments and decreased net working capital movements, which were partly offset by our improved operating performance.

Net cash flows used in investing activities

The
increase in net cash flows used in investing activities in the year ended December 31, 2014 compared to the year ended December 31, 2013 was primarily due to increased capital expenditures in the expansion of existing data centers in
London, Brussels, Stockholm and Zurich, the construction of new data centers in Frankfurt, Amsterdam, Vienna and Stockholm and the acquisition of a data center in Marseille. The decrease in net cash flows used in investing activities in the year
ended December 31, 2013 compared to the year ended December 31, 2012 was primarily due to lower capital expenditures in the expansion of existing data centers and the construction of new data centers.

Net cash flows from financing activities

Net
cash flows from financing activities during the year ended December 31, 2014 were principally the result of 157.9 million in net proceeds from the offering of the Additional Notes due 2020 and 9.2 million in gross proceeds
drawn under the new mortgage on our BRU1 property. Net cash flows from financing activities during the year ended December 31, 2013 were principally the result of 317.1 million in net proceeds from the offering of the Senior Secured
Notes due 2020 and the repayment of the 260.0 million Senior Secured Notes due 2017, 16.0 million in gross proceeds drawn under our new mortgage financings on our PAR3, PAR5 and AMS3 data center properties and
4.5 million in gross proceeds that we received from share options exercised by management and employees. Net cash flows from financing activities during the year ended December 31, 2012 were principally the result of
10.0 million in gross proceeds drawn under our new mortgage financing on our AMS6 data center property, and of 8.0 million in gross proceeds from the exercise of options.

We anticipate that cash flows from operating activities and from the utilization of credit available will be sufficient to meet our operating
requirements on a short-term (twelve months) and long-term basis, including repayment of the current portion as of December 31, 2014 of our debt as it becomes due, and to complete our publicly announced expansion projects.

The Company assesses its capital raising and refinancing needs on an ongoing basis and may enter into additional credit facilities and seek to
issue equity and/or debt securities in the domestic and international capital markets if market conditions are favorable. Also, depending on market conditions, the Company may elect to repurchase portions of its debt securities in the open market,
pursuant to the redemption provisions in the applicable indenture or otherwise.

Optional Redemption of the Senior Secured Notes

Optional Redemption prior to July 15, 2016 upon an Equity Offering

At any time prior to July 15, 2016, upon not less than 10 nor more than 60 days notice, we may on any one or more occasions redeem
up to 35% of the aggregate principal amount of the Senior Secured Notes at a redemption price of 106.000% of their principal amount, plus accrued and unpaid interest, if any, to the redemption date, with the net proceeds from one or more equity
offerings. We may only do this, however, if:



| | (a) | at least 65% of the aggregate principal amount of the Senior Secured Notes that were initially issued (calculated after giving effect to the issuance of any additional notes) would remain outstanding immediately after
the proposed redemption; and
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | the redemption occurs within 90 days after the closing of such equity offering.
| | --- | -------------------------------------------------------------------------------

Optional Redemption prior
to July 15, 2016

Prior to July 15, 2016, upon not less than 10 nor more than 60 days notice, we may during each
12-month period commencing on July 3, 2013 redeem up to 10% of the aggregate principal amount of the Senior Secured Notes (calculated after giving effect to the issuance of any Additional Notes) at a redemption price equal to 103.000% of the
principal amount redeemed plus accrued and unpaid interest, if any, to the redemption date.



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At any time prior to July 15, 2016, upon not less than 10 nor more than 60 days
notice, we may also redeem all or part of the Senior Secured Notes at a redemption price equal to 100% of the principal amount thereof plus the Applicable Redemption Premium and accrued and unpaid interest to the redemption date.

Optional Redemption on or after July 15, 2016

At any time on or after July 15, 2016 and prior to maturity, upon not less than 10 nor more than 60 days notice, we may redeem all
or part of the Senior Secured Notes. These redemptions will be in amounts of 100,000 or integral multiples of 1,000 in excess thereof at the following redemption prices (expressed as percentages of their principal amount at maturity),
plus accrued and unpaid interest, if any, to the redemption date, if redeemed during the 12-month period commencing on July 15 of the years set forth below.



|                    |  |                  |         |  
|------------------- |  | ---------------- | ------- | -
|Year                |  | Redemption Price |        
|2016                |  |                  | 104.500 | %
|2017                |  |                  | 103.000 | %
|2018                |  |                  | 101.500 | %
|2019 and thereafter |  |                  | 100.000 | %

Any optional redemption or notice thereof may, at our discretion, be subject to one or more conditions
precedent.

Redemption Upon Changes in Withholding Taxes

We may, at our option, redeem the Notes, in whole but not in part, at any time upon giving not less than 10 nor more than 60 days notice
to the Holders, at a redemption price equal to 100% of the principal amount thereof, together with accrued and unpaid interest thereon, if any, to the redemption date and all Additional Amounts, if any, then due and which will become due on the date
of redemption as a result of the redemption or otherwise, if we determine in good faith that we or any guarantor is or, on the next date on which any amount would be payable in respect of the Notes, would be obliged to pay Additional Amounts which
are more than a de minimis amount in respect of the Notes or the Guarantees pursuant to the terms and conditions thereof, which we or any guarantor cannot avoid by the use of reasonable measures available to it (including making payment through a
paying agent located in another jurisdiction), as a result of:



| | (a) | any change in, or amendment to, the laws (or any regulations or rulings promulgated thereunder) of any relevant taxing jurisdiction affecting taxation which becomes effective on or after the date of the Indenture or, if
the relevant taxing jurisdiction has changed since the date of the Indenture, on or after the date on which the then current relevant taxing jurisdiction became the relevant taxing jurisdiction under the Indenture; or
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | any change in the official application, administration, or interpretation of the laws, treaties, regulations or rulings of any relevant taxing jurisdiction (including a holding, judgment or order by a court of competent
jurisdiction) on or after the date of the Indenture or, if the relevant taxing jurisdiction has changed since the date of the Indenture, on or after the date on which the then current relevant taxing jurisdiction became the relevant taxing
jurisdiction under the Indenture (each of the foregoing clauses (a) and (b), a Change in Tax Law).
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The
Notes also contain standard change of control provisions which require the Company to make an offer to each holder of Notes to purchase such holders Notes in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest,
if any, to the date of purchase, upon the occurrence of a change of control (as defined in the indenture for the Notes).

Definitions:

Additional Amounts means amounts the Issuer or Guarantor as the case may be, shall pay as may be necessary so that the net amount
received by each Holder of the Notes (including Additional Amounts) after withholding or deduction on account of any such taxes from any payment made under or with respect to the Notes shall be not less than the amount that such Holder would have
received if such taxes had not been required to be withheld or deducted.

Applicable Redemption Premium means, with respect to
any Note on any redemption date, the greater of:



| | a) | 1.0% of the principal amount of the Note; and
| | -- | ---------------------------------------------



| | b) | the excess of:
| | -- | --------------



| | (i) | the present value at such redemption date of: (x) the redemption price of such Note at July 15, 2016 (such redemption price being set forth in the table appearing on the face of the Notes); plus (y) all
required interest payments that would otherwise be due to be paid on such Note during the period between the redemption date and July 15, 2016 (excluding accrued but unpaid interest), computed using a discount rate equal to the bund rate plus
50 basis points; over
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (ii) | the outstanding principal amount of the Note.
| | ---- | ---------------------------------------------



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For the avoidance of doubt, calculation of the Applicable Redemptions Premium shall not be a duty
or obligation of the trustee or any paying agent.

Holder means the person in whose name a Note is recorded on the
registrars books.

Indenture means the indenture dated as of July 3, 2013 among InterXion Holding N.V., as Issuer,
InterXion Belgium N.V., InterXion Danmark ApS, InterXion Carrier Hotel Limited, InterXion Datacenters B.V., InterXion Deutschland GmbH, Interxion España S.A., InterXion France SAS, InterXion HeadQuarters B.V., InterXion Ireland Limited,
InterXion Nederland B.V. and InterXion Operational B.V., as initial guarantors, The Bank of New York Mellon, London Branch, as trustee, principal paying agent and transfer agent, The Bank of New York Mellon (Luxembourg) S.A., as registrar and
Luxembourg paying agent and Barclays Bank PLC, as security trustee, as may be amended or supplemented from time to time.

Issuer means InterXion Holding N.V.

Notes means the 475 million 6.00% senior secured notes due 2020 including Additional Notes issued under the Indenture.

Restrictive Covenants Under Certain Financing Agreements

The Revolving Facility Agreement between, among others, the Company as original borrower, the Lenders and Barclays Bank PLC as agent and
security trustee, provides for the 100.0 million Revolving Facility.

Revolving Facility

Failure to comply with the financial covenants in our 100 million Revolving Facility Agreement would result in an event of default,
which may cause all amounts outstanding under the facility to become immediately due and payable. Acceleration of such outstanding amounts under the facility may lead to an event of default under the indenture governing our 475 million
6.00% Senior Secured Notes. Failure to satisfy the financial covenants in the indenture would result in our inability to incur additional debt under certain circumstances.

The Revolving Facility Agreement contains various covenants that restrict, among other things and subject to certain exceptions, the ability
of the Company and its subsidiaries to:



| |  |  | create certain liens;
| | - |  | ---------------------



| |  |  | incur debt and/or guarantees;
| | - |  | -----------------------------



| |  |  | enter into transactions other than on arms-length basis;
| | - |  | ---------------------------------------------------------



| |  |  | pay dividends or make certain distributions or payments;
| | - |  | --------------------------------------------------------



| |  |  | engage, in relation to the Company, in any business activity or own assets or incur liabilities not authorized by the Revolving Facility Agreement;
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | sell certain kinds of assets;
| | - |  | -----------------------------



| |  |  | enter into any sale and leaseback transactions;
| | - |  | -----------------------------------------------



| |  |  | make certain investments or other types of restricted payments;
| | - |  | ---------------------------------------------------------------



| |  |  | substantially change the nature of the Company or the Groups business;
| | - |  | -----------------------------------------------------------------------



| |  |  | designate unrestricted subsidiaries; and
| | - |  | ----------------------------------------



| |  |  | effect mergers, consolidations or sale of assets.
| | - |  | -------------------------------------------------

The restrictive covenants are subject to
customary exceptions including, in relation to the incurrence of additional debt, a consolidated fixed charge ratio (calculated as a ratio of adjusted EBITDA to consolidated interest expense) to exceed 2.00 to 1.00 on a pro forma basis for the four
full fiscal quarters (taken as one period) for which financial statements are available immediately preceding the incurrence of such debt and, if such debt is senior debt, a consolidated senior leverage ratio (calculated as a ratio of



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outstanding senior debt of the Company and its restricted subsidiaries (on a consolidated basis) to pro forma adjusted EBITDA) to be less than 4.00 to 1.00 on a pro forma basis for the four full
fiscal quarters (taken as one period) for which financial statements are available immediately preceding the incurrence of such debt. The Revolving Facility Agreement also includes a leverage ratio financial covenant (tested on a quarterly basis)
requiring total net debt (calculated as a ratio to pro forma EBITDA) not to exceed 4.00 to 1.00. In addition, the Company must ensure that the guarantors represent a certain percentage of adjusted EBITDA of the Group as a whole and a certain
percentage of the consolidated net assets of the Group as a whole.

The breach of any of these covenants by the Company or the failure by
the Company to maintain its leverage ratio could result in a default under the Revolving Facility Agreement. As of December 31, 2014, the Company was in compliance with all covenants in the Revolving Facility Agreement. In addition, the Company
does not anticipate any such breach or failure and believes that its ability to borrow funds under the Revolving Facility Agreement will not be adversely affected by the covenants in the next twelve months.

Senior Secured Notes Indenture

The
Indenture contains covenants for the benefit of the holders of the Notes that restrict, among other things and subject to certain exceptions, the ability of the Company and its subsidiaries to:



| |  |  | incur debt;
| | - |  | -----------



| |  |  | enter into certain transactions with, or for the benefit of, an affiliate;
| | - |  | --------------------------------------------------------------------------



| |  |  | create or incur certain liens;
| | - |  | ------------------------------



| |  |  | incur a changes in control;
| | - |  | ---------------------------



| |  |  | pay dividends or make certain distributions or payments;
| | - |  | --------------------------------------------------------



| |  |  | engage in any business activity not authorized by the Indenture;
| | - |  | ----------------------------------------------------------------



| |  |  | sell certain kinds of assets;
| | - |  | -----------------------------



| |  |  | impair any security interest on the assets serving as collateral for the Notes;
| | - |  | -------------------------------------------------------------------------------



| |  |  | enter into any sale and leaseback transaction;
| | - |  | ----------------------------------------------



| |  |  | make certain investments or other types of restricted payments;
| | - |  | ---------------------------------------------------------------



| |  |  | designate unrestricted subsidiaries;
| | - |  | ------------------------------------



| |  |  | effect mergers, consolidations or sale of assets; and
| | - |  | -----------------------------------------------------



| |  |  | guarantee certain debt.
| | - |  | -----------------------

The breach of any of these covenants by the Company could result in a
default under the Indenture. As of December 31, 2014, the Company was in compliance with all covenants in the Indenture.

EBITDA and Adjusted
EBITDA

EBITDA for the years ended December 31, 2014, December 31, 2013 and 2012 was 140.6 million,
128.0 million and 109.2 million, respectively, representing 41%, 42% and 39% of revenue, respectively. Adjusted EBITDA for the years ended December 31, 2014, December 31, 2013 and 2012 was 146.4 million,
131.8 million and 115.0 million respectively, representing 43%, 43% and 42% of revenue, respectively.

EBITDA is
defined as operating profit plus depreciation, amortization and impairment of assets. We define Adjusted EBITDA as EBITDA adjusted to exclude share-based payments, increase/decrease in provision for onerous lease contracts, transaction costs and
income from sub-leases on unused data center sites. Adjusted EBITDA margin is defined as Adjusted EBITDA as a percentage of revenue. We present EBITDA, Adjusted EBITDA and Adjusted EBITDA margin as additional information because we understand that
they are measures used by certain investors and because they are used in our financial covenants in our 100 million Revolving Facility Agreement and 475 million 6.00% Senior Secured Notes due 2020. However, other companies may
present EBITDA, Adjusted EBITDA and Adjusted EBITDA margin differently than we do. EBITDA, Adjusted EBITDA and Adjusted EBITDA margin are not measures of financial performance under IFRS and should not be considered as an alternative to operating
profit or as a measure of liquidity or an alternative to net income as indicators of our operating performance or any other measure of performance derived in accordance with IFRS.



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The following table presents a reconciliation of EBITDA and Adjusted EBITDA to operating profit
according to our income statement, for the periods indicated:



|                                                                |  |                         |         |   |      |  |         |      |  |  |         |  
|--------------------------------------------------------------- |  | ----------------------- | ------- | - | ---- |  | ------- | ---- |  |  | ------- | -
|                                                                |  | Year ended December 31, |        
|                                                                |  | 2014                    |         |   | 2013 |  |         | 2012 | 
|                                                                |  | (000)                 |        
|Profit for the year attributable to shareholders                |  |                         | 35,060  |   |      |  | 6,824   |      |  |  | 31,631  |  
|Net tax expense                                                 |  |                         | 15,449  |   |      |  | 6,082   |      |  |  | 15,782  |  
|                                                                |  |                         |         |   |      |  |         |      |  |  |         |  
|Profit before taxation                                          |  |                         | 50,509  |   |      |  | 12,906  |      |  |  | 47,413  |  
|Net finance expense                                             |  |                         | 27,876  |   |      |  | 57,453  |      |  |  | 17,746  |  
|                                                                |  |                         |         |   |      |  |         |      |  |  |         |  
|Operating profit                                                |  |                         | 78,385  |   |      |  | 70,359  |      |  |  | 65,159  |  
|Depreciation, amortization and impairments                      |  |                         | 62,177  |   |      |  | 57,670  |      |  |  | 43,993  |  
|                                                                |  |                         |         |   |      |  |         |      |  |  |         |  
|EBITDA                                                          |  |                         | 140,562 |   |      |  | 128,029 |      |  |  | 109,152 |  
|Share-based payments                                            |  |                         | 6,576   |   |      |  | 4,149   |      |  |  | 5,488   |  
|Increase/(decrease) in provision for onerous lease contracts(1) |  |                         | (805    | ) |      |  |        |      |  |  | 838     |  
|M&A transaction costs                                           |  |                         | 325     |   |      |  |        |      |  |  |        |  
|Income from sub-leases on unused data center sites (2)          |  |                         | (271    | ) |      |  | (341    | )    |  |  | (463    | )
|                                                                |  |                         |         |   |      |  |         |      |  |  |         |  
|Adjusted EBITDA                                                 |  |                         | 146,387 |   |      |  | 131,837 |      |  |  | 115,015 |  
|                                                                |  |                         |         |   |      |  |         |      |  |  |         |  



Notes:

|(1) | Increase in provision for onerous lease contracts does not reflect the deduction of income from subleases on unused data center sites.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------

|(2) | Income from sub-leases on unused data center sites is reported within Other income.
|--- | ---------------------------------------------------------------------------------------

Contractual Obligations and Off-Balance Sheet Arrangements

We lease a majority of our data centers and certain equipment under non-cancellable lease agreements. The following represents our debt
maturities, financings, leases and other contractual commitments as of December 31, 2014:



|                                                                   |  |         |           |  |                 |  |         |             |  |  |             |  |  |                  |         |  |  |  |         | 
|------------------------------------------------------------------ |  | ------- | --------- |  | --------------- |  | ------- | ----------- |  |  | ----------- |  |  | ---------------- | ------- |  |  |  | ------- | 
|                                                                   |  | Total   |           |  | Less than 1year |  |         | 1  3 years |  |  | 3  5 years |  |  | More than5 years |        
|                                                                   |  | (000) |          
|Long-term debt obligations(1)                                      |  |         | 684,734   |  |                 |  | 31,684  |             |  |  | 72,785      |  |  |                  | 64,536  |  |  |  | 515,729 | 
|Capital (finance) lease obligations(2)                             |  |         | 74,848    |  |                 |  | 21,604  |             |  |  | 6,085       |  |  |                  | 25,879  |  |  |  | 21,280  | 
|Operating lease obligations in relation to onerous lease contracts |  |         | 4,795     |  |                 |  | 3,339   |             |  |  | 1,456       |  |  |                  |        |  |  |  |        | 
|Operating lease obligations (3)                                    |  |         | 329,012   |  |                 |  | 28,265  |             |  |  | 56,676      |  |  |                  | 58,877  |  |  |  | 185,194 | 
|Other contractual purchase commitments                             |  |         | 47,139    |  |                 |  | 28,013  |             |  |  | 12,981      |  |  |                  | 6,145   |  |  |  |        | 
|Capital purchase commitments                                       |  |         | 62,800    |  |                 |  | 62,800  |             |  |  |            |  |  |                  |        |  |  |  |        | 
|                                                                   |  |         |           |  |                 |  |         |             |  |  |             |  |  |                  |         |  |  |  |         | 
|Total                                                              |  |         | 1,203,328 |  |                 |  | 175,705 |             |  |  | 149,983     |  |  |                  | 155,437 |  |  |  | 722,203 | 
|                                                                   |  |         |           |  |                 |  |         |             |  |  |             |  |  |                  |         |  |  |  |         | 



Notes:

|(1) | Long-term debt obligations include the Senior Secured Notes, the mortgages, loans from suppliers and/or landlords including the related interest.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------

|(2) | Capital (finance) lease obligations include future interest payments.
|--- | ---------------------------------------------------------------------

|(3) | Operating lease obligations include the lease of property and equipment. Of the total operating leases, as of December 31, 2014, an amount of 72.7 million is cancellable until January 1, 2016.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

In connection with 19 of our data center and other property leases and properties, we entered into 17 irrevocable bank
guarantees totaling 10.9 million with ABN AMRO Bank, Royal Bank of Scotland, La Caixa BNP Paribas and Sparkasse. These bank guarantees were provided in lieu of cash deposits and automatically renew in successive one-year periods until the
final lease expiration date. The bank guarantees are cash collateralized and the collateral is reflected as restricted cash on our statement of financial position. These contingent commitments are not reflected in the table above.



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Primarily as a result of our various data center expansion projects, as of December 31,
2014, we were contractually committed for 62.8 million of unaccrued capital expenditures, primarily for data center equipment not yet delivered and labor not yet provided, in connection with the work necessary to complete construction and
open these data centers prior to making them available to customers for installation. This amount, which is expected to be paid in 2015, is reflected in the table above as Capital purchase commitments.

We have other non-capital purchase commitments in place as of December 31, 2014, such as commitments to purchase power in select
locations, through the year 2015, and other open purchase orders, which contractually bind us for goods or services to be delivered or provided during the remainder of 2015 and beyond. Such other purchase commitments as of December 31, 2014,
which totaled 47.1 million, are also reflected in the table above as Other contractual purchase commitments.

In
addition, although we are not contractually obligated to do so, we expect to incur additional capital expenditures consistent with our disciplined expansion and conservative financial management in our various data center expansion projects during
the remainder of 2015 in order to complete the work needed to open these data centers. These non-contractual capital expenditures are not reflected in the table above.

On January 18, 2013, the Group entered into a 10 million mortgage financing. The mortgage loans are secured by mortgages on
the PAR3 land owned by Interxion Real Estate II Sarl and the PAR5 land owned by Interxion Real Estate III Sarl, a pledge on the rights under the intergroup lease agreements between Interxion Real Estate II Sarl and Interxion Real Estate III Sarl, as
lessors, and Interxion France SAS, as lessee, and are guaranteed by Interxion France SAS. The repayment of principal under the mortgage loans are required to be repaid in quarterly installments collectively amounting to 167,000 commencing
April 18, 2013. The mortgage loans have a maturity of fifteen years and a variable interest rate based on EURIBOR plus an individual margin ranging from 240 to 280 basis points. The mortgage loan agreements require the interest rate to be fixed
for a minimum of 40% of the principal outstanding amount for a minimum of six years. In April 2013, the interest rate was fixed for approximately 75% of the principal outstanding amount for a period of 10 years.

On June 26, 2013, the Group entered into a 6 million mortgage financing. The mortgage loan is secured by a mortgage on the
AMS3 property owned by Interxion Real Estate V B.V. and a pledge on the rights under the intergroup lease agreement between Interxion Real Estate V B.V., as lessor, and Interxion Nederland B.V., as lessee. The repayment of principal under this
mortgage loan is required to be repaid in annual installments of 400,000 commencing May 1, 2014 and a final repayment of 4,400,000 due on May 1, 2018. The mortgage loan agreement includes a variable interest rate based on
EURIBOR plus 275 basis points. The mortgage loan contains a minimum debt service capacity ratio of 1:1 based on the operations of Interxion Real Estate V B.V.

Critical Accounting Estimates

Basis of Measurement

We present our financial statements in thousands of euro. They are prepared under the historical cost convention except for certain
financial instruments. The financial statements are presented on the going-concern basis. Our functional currency is the euro.

The
accounting policies set out below have been applied consistently by us and our wholly-owned subsidiaries and to all periods presented in these consolidated financial statements.

Use of Estimates and Judgments

The
preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses.
Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods
affected.

Judgments, estimates and assumptions applied by management in preparing the financial statements are based on circumstances as
of December 31, 2014 and based on Interxion operating as a stand-alone company. The closing of the proposed transaction with TelecityGroup, may impact future judgments, estimates and assumptions, as applied by management in preparing our
financial statements.

In particular, information about significant areas of estimation uncertainty and critical judgments in applying
accounting policies that have the most significant effect on amounts recognized in the financial statements are discussed below.



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Property, Plant and Equipment Depreciation

Estimated remaining useful lives and residual values are reviewed annually. The carrying values of property, plant and equipment are also
reviewed for impairment where there has been a triggering event by assessing the present value of estimated future cash flows and net realizable value compared with net book value. The calculation of estimated future cash flows and residual values
is based on our best estimates of future prices, output and costs and is therefore subjective. Furthermore, the valuation of some of the assets under construction requires judgments which are related to the probability of signing lease contracts and
obtaining planning permits.

In the fourth quarter of the year ended December 31, 2013, the Company completed its annual review of
the estimated useful life of its property, plant and equipment. As a result of the review, the Company concluded that certain of its existing assets were in use longer than originally anticipated. Therefore, the estimated useful life of certain of
our property, plant and equipment has been extended. This change was accounted for as a change in accounting estimate on a prospective basis effective October 1, 2013 under IAS 8 change in accounting estimates. In the fourth quarter of the year
ended December 31, 2013, we recorded approximately 2 million lower depreciation expenses due to the changes in the estimated useful lives of certain of our property, plant and equipment. On an annualized basis the impact would have
been approximately 8 million lower depreciation charges.

Intangible Fixed Assets Amortization

Estimated remaining useful lives and residual values are reviewed annually. The carrying values of intangible fixed assets are also reviewed
for impairment where there has been a triggering event by assessing the present value of estimated future cash flows and net realizable value compared with net book value. The calculation of estimated future cash flows and residual values is based
on our best estimates of future prices, output and costs and is therefore subjective.

Lease Accounting

At inception or modification of an arrangement, the Group determines whether such an arrangement is or contains a lease. Classification of a
lease contract (operating versus a finance lease) is based on the extent to which risks and rewards incidental to ownership of a leased asset lie with the lessor or the lessee. The classification of lease contracts includes the use of judgments and
estimates.

Costs of Site Restoration

Liabilities in respect of obligations to restore premises to their original condition are estimated at the commencement of the lease and
reviewed yearly based on rents, remaining terms, contracted extension possibilities and possibilities of lease terminations. A provision for site restoration is recognized when costs for restoring leasehold premises to their original condition at
the end of the lease term is required to be made and the likelihood of this liability is estimated to be probable. The discounted cost of the liability is included in the related assets and is depreciated over the remaining estimated term of the
lease. If the likelihood of this liability is estimated to be possible, rather than probable, it is disclosed as a contingent liability.

Provision for
Onerous Lease Contracts

Provision is made for the discounted amount of future losses expected to be incurred in respect of unused data
center sites over the term of the leases. Where unused sites have been sublet or partly sublet, management has taken account of the contracted rental income to be received over the minimum sublease term in arriving at the amount of future losses.
Currently, the provision for onerous lease contracts principally relates to two unused data center sites in Germany, one in Munich terminating in March 2016 and one in Dusseldorf terminating in August 2016.

Deferred Taxation

Provision is made for
deferred taxation at the rates of tax prevailing at the period end dates unless future rates have been substantively enacted. Deferred tax assets are recognized where it is probable that they will be recovered based on estimates of future taxable
profits for each tax jurisdiction. The actual profitability may be different depending upon local financial performance in each tax jurisdiction.

Share-based Payments

Equity-settled share-based
payments are issued to certain employees under the terms of the long term incentive plans. The charges related to equity-settled share-based payments, options to purchase ordinary shares, are measured at fair value at the date of grant. The fair
value at the grant date is determined using the Black Scholes model and is expensed over the vesting period. The value of the expense is dependent upon certain assumptions including the expected future volatility of the Companys share price at
the date of the grant.



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Senior Secured Notes due 2020

The Senior Secured Notes due 2020 are valued at amortized costs. The Senior Secured Notes due 2020 indenture includes optional redemption
provisions, which allow us to redeem the Notes prior to their stated maturity. As part of the initial measurement of the amortized cost value of the Senior Secured Notes due 2020, we have assumed that the Notes will be held to maturity. If we redeem
all or part of the Notes prior to their stated maturity the liability will be re-measured based on the original effective interest rate. The difference between the liability of excluding a change in assumed early redemption and the liability
compared to including a change in assumed early redemption, will be reflected in our profit and loss.

Recent Accounting Pronouncements

The new standards, amendments to standards and interpretations listed below were available for early adoption in the annual period beginning
January 1, 2014. The Group has yet to adopt the following new standards, amendments to standards and interpretations, as they were not compulsory:



|                |  |                                                                                                        
|--------------- |  | -------------------------------------------------------------------------------------------------------
|Effective date  |  | New standard or amendments                                                                             
|                | 
|January 1, 2016 |  | IFRS 14  Regulatory deferral accounts;                                                                
|                | 
|                |  | Amendments to IFRS 11  Accounting for acquisitions of interests in Joint Operations                   
|                | 
|                |  | Amendments to IAS 16 and IAS 38  Clarification of acceptable methods of depreciation and amortization;
|                | 
|January 1, 2017 |  | IFRS 15  Revenue from contract with customers                                                         
|                | 
|January 1, 2018 |  | IFRS 9  Financial instruments.                                                                        



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ITEM 6: DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES

Introduction

We have a one-tier board
structure (the Board) comprised of directors with the title Executive Directors and directors with the title Non-Executive Directors (together with the Executive Directors, the Directors). The majority
of our Directors are independent as required by the NYSE.

Senior Management and Board of Directors

The following table lists the names, positions and ages of the members of our Senior Management and our Directors:



|                       |  |     |    |  |             |                                                                          |                         |  |      | 
|---------------------- |  | --- | -- |  | ----------- | ------------------------------------------------------------------------ | ----------------------- |  | ---- | 
|Name                   |  | Age |    |  | Position(2) |                                                                          | Term Expiration Date(1) | 
|David Ruberg           |  |     | 69 |  |             | President, Chief Executive Officer, Vice-Chairman and Executive Director |                         |  | 2016 | 
|M.V. Josh Joshi      |  |     | 47 |  |             | Chief Financial Officer                                                  |                         |  |      | 
|Giuliano Di Vitantonio |  |     | 47 |  |             | Chief Marketing Officer                                                  |                         |  |      | 
|Jaap Camman            |  |     | 48 |  |             | Senior Vice President, Legal                                             |                         |  |      | 
|Jan Pieter Anten       |  |     | 42 |  |             | Vice President, Human Resources                                          |                         |  |      | 
|John C. Baker          |  |     | 65 |  |             | Chairman and Non-Executive Director                                      |                         |  | 2016 | 
|Frank Esser            |  |     | 56 |  |             | Non-Executive Director                                                   |                         |  | 2017 | 
|Mark Heraghty          |  |     | 51 |  |             | Non-Executive Director                                                   |                         |  | 2017 | 
|Jean F.H.P. Mandeville |  |     | 55 |  |             | Non-Executive Director                                                   |                         |  | 2016 | 
|Robert M. Manning      |  |     | 55 |  |             | Non-Executive Director                                                   |                         |  | 2015 | 
|Rob Ruijter            |  |     | 63 |  |             | Non-Executive Director                                                   |                         |  | 2015 | 



Notes:

|(1) | The term of office expires at the annual general meeting of our shareholders held in the year indicated.
|--- | --------------------------------------------------------------------------------------------------------

|(2) | A majority of our Directors are independent as required by the NYSE. Of our Non-Executive Directors, Mr. Baker and Mr. Manning are considered to be non-independent as they are both general partners of Baker
Capital affiliates. Our other Non-Executive Directors are all independent.
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The business address of all members of our
Senior Management and of our Directors is at our registered offices located at Tupolevlaan 24, 1119 NX Schiphol-Rijk, The Netherlands.

In
connection with our entry into the Implementation Agreement, certain members of our Senior Management and our Directors entered into Irrevocable Undertaking Agreements, as further described in Item 7 Major Shareholders and Related Party
TransactionsIrrevocable Undertaking Agreements. The principal functions and experience of each of the members of our Senior Management and our Directors are set out below:

David Ruberg, President, Chief Executive Officer, Vice-Chairman and Executive Director

Mr. Ruberg joined us as President and Chief Executive Officer in November 2007 and became Vice-Chairman of the board of directors when it
became a one-tier board in 2011. Mr. Ruberg served as Chairman of the Supervisory Board from 2002 to 2007 and on the Management Board from 2007 until the conversion into a one-tier board. Mr. Ruberg was affiliated with Baker Capital, a
private equity firm from January 2002 until October 2007. From April 1993 until October 2001 he was Chairman, President and CEO of Intermedia Communications, a NASDAQ-listed broadband communications services provider, as well as Chairman of its
majority-owned subsidiary, Digex, Inc., a NASDAQ-listed managed web hosting company. He began his career as a scientist at AT&T Bell Labs, contributing to the development of operating systems and computer languages. He holds a Bachelors
Degree from Middlebury College and a Masters in Computer and Communication Sciences from the University of Michigan.

M.V. Josh Joshi,
Chief Financial Officer

Mr. Joshi joined us as Chief Financial Officer in August 2007. From June 2006 to December 2006 he was
CFO of Leisure and Gaming plc, an online gaming and gambling business, and from April 2003 to May 2006 he was CFO of Telecity plc, a pan European carrier and cloud neutral data center business, both publicly traded companies on the London Stock
Exchange. He was



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one of the founders and CFO of private-equity-backed Storm Telecommunications Limited, a U.S. and pan European
data and network service provider. In his early career, Mr. Joshi spent 8 years in professional practice, predominantly with Arthur Andersen. Mr. Joshi holds a Bachelors Degree in Civil Engineering from Imperial College, London and
is a chartered accountant.

Giuliano Di Vitantonio, Chief Marketing Officer

Mr. Di Vitantonio joined Interxion in January 2015 and is responsible for our market and product strategies, including product management,
product marketing, segment strategy and business development. He joined from Cisco Systems, where he held the position of Vice President Marketing, Data Center & Cloud.

Mr. Di Vitantonio has over 20 years of experience in the IT industry, including 17 years at Hewlett-Packard, where he held a broad range
of positions in R&D, strategy, consulting, business development and marketing. Mr. Di Vitantonios areas of expertise include IT management software, enterprise applications, data center infrastructure and business intelligence
solutions. He has a Masters degree in EE/Telecommunications from the University of Bologna and an MBA from the London Business School. Mr. Di Vitantonio has lived in five different countries and is fluent in four languages.

Jaap Camman, Senior Vice President, Legal

Mr. Camman is responsible for all legal and corporate affairs across the Group. He joined us in November 1999 as Manager Legal and has
been our Executive Vice President Legal since July 2002. Before joining us, he worked for the Dutch Government from February 1994 until October 1999. His latest position was Deputy Head of the Insurance Division within The Netherlands Ministry of
Finance. Mr. Camman holds a Law Degree from Utrecht University.

Jan-Pieter Anten, Vice President, Human Resources

Mr. Anten joined us as Vice President Human Resources in October 2011. Prior to joining us, Mr. Anten worked for Hay Group, a global
management consulting firm, as Director International Strategic Clients Europe, where he led major accounts within the European market. Prior to that, he held the position of Vice President Human Resources at Synthon, an international organization
with worldwide affiliates. Before Synthon he worked for Hay Group as a Senior Consultant. Mr. Anten holds a degree from the University of Utrecht.

John C. Baker, Chairman and Non-Executive Director

Mr. Baker serves as Chairman of the board of directors. Prior to our conversion into a one-tier board of directors in January 2011,
Mr. Baker served as Chairman of our Supervisory Board, which he joined in 2007. Mr. Baker founded Baker Capital in 1995. Mr. Baker is a member of the board of Wine.com and University of Cincinnati IAC. Mr. Baker is a graduate of
Harvard College and Harvard Business School.

Frank Esser, Non-Executive Director

Mr. Esser serves on our board of directors, to which he was appointed in June 2014. From 2000 onwards, he has held various positions with
the French telecom operator SFR, where, from 2002 to 2012, he was President and CEO. From 2005 to 2012, he was a member of the board of Vivendi Management. Prior to that he was a Senior Vice President of Mannesmann International Operations until
2000. Mr. Esser serves on the board of AVG N.V., Rentabiliweb S.A. and Swisscom AG. He is a Business Administration graduate from Cologne University and he holds a Doctorate in Business Administration from the Cologne University.

Mark Heraghty, Non-Executive Director

Mr. Heraghty serves on our board of directors, to which he was appointed in June 2014. His most recent position is Managing Director of
Virgin Media Business. From 2006 to 2009, he was President EMEA for Reliance Globalcom with regional responsibility for the former FLAG Telecom and Vanco businesses which Reliance acquired. From 2000 to 2003, he was the CEO Europe for
Cable & Wireless. Mr. Heraghty graduated from Trinity College Dublin with a degree in Mechanical Engineering (1985) and holds an MBA awarded by Warwick University (1992).

Jean F.H.P. Mandeville, Non-Executive Director

Mr. Mandeville serves on our board of directors, to which he was appointed in January 2011. Mr. Mandeville is a co-founder and
general partner of private equity firm Astra Capital Management LLC. From October 2008 to December 2010, Mr. Mandeville served as Chief Financial Officer and board member of MACH S.à. r.l. He served as an Executive Vice President and
Chief Financial Officer of Global Crossing Holdings Ltd/Global Crossing Ltd. from February 2005 to September 2008.



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Mr. Mandeville joined Global Crossing in February 2005, where he was responsible for all of its financial operations. He served as Chief Financial Officer of Singapore Technologies Telemedia
Pte. Ltd./ST Telemedia from July 2002 to January 2005. In 1992, he joined British Telecom and served in various capacities covering all sectors of the telecommunications market (including wireline, wireless and multi-media) in Europe, Asia and the
Americas. From 1992 to June 2002, Mr. Mandeville served in various capacities at British Telecom PLC, including President of Asia Pacific from July 2000 to June 2002, Director of International Development Asia Pacific from June 1999 to July
2000 and General Manager, Special Projects from January 1998 to July 1999. Mr. Mandeville was a Senior Consultant with Coopers & Lybrand, Belgium from 1989 to 1992. He graduated from the University Saint-Ignatius Antwerp with a Masters
in Applied Economics in 1982 and a Special degree in Sea Law in 1985.

Robert M. Manning, Non-Executive Director

Mr. Manning serves on our board of directors. Prior to our conversion into a one-tier board of directors in January 2011, Mr. Manning
served on our Supervisory Board, which he joined in 2002. Mr. Manning is a general partner with Baker Capital. Prior to joining Baker Capital, Mr. Manning was CFO of Intermedia Communications, Inc., a broadband communications service
provider, from 1996 to 2001, and a director of its majority-owned subsidiary Digex, Inc., a provider of managed web hosting services, from 1998 to 2001. Prior to Intermedia, Mr. Manning was a founding executive of DMX, Inc., the first
satellite- and cable-delivered digital radio network, from 1990 to 1996. Prior to DMX, Mr. Manning worked as an investment banker to the cable television and communications industries. Mr. Manning serves on the boards of Wine.com
(Chairman) and Core Value Software (Chairman). He is a graduate of Williams College.

Rob Ruijter, Non-Executive Director

Mr. Ruijter serves on our board of directors, to which he was appointed in December 2014. Mr. Ruijter was the Chief Financial Officer
of KLM Royal Dutch Airlines from 2001 until its merger with Air France in 2004 and the Chief Financial Officer of VNU N.V. (a publicly listed marketing and publishing company now the Nielsen company) between 2004 and 2007. In 2009 and 2010 he served
as the CFO of ASM International N.V. (a publicly listed manufacturer of electronic components) and in 2013 as the interim CEO of Vion Food Group N.V.

Mr. Ruijter currently serves on the Supervisory Boards of Wavin N.V. (a manufacturer of piping) and Ziggo N.V. (a publicly listed cable
company) as Chairman of the Audit Committee and as non-executive director of Inmarsat Plc. He also serves on the Supervisory Board of Delta Lloyd N.V. as Chairman of the Remuneration Committee and a member of the Audit and Risk Committees.
Mr. Ruijter is a Certified Public Accountant in the United States and in The Netherlands and a member of the ACT in the UK.

Board Powers and
Function

Our Board is responsible for the overall conduct of our business and has the powers, authorities and duties vested in it by
and pursuant to the relevant laws of The Netherlands and our articles of association. In all its dealings, our Board shall be guided by the interests of our Group as a whole, including but not limited to our shareholders. Our Board has the final
responsibility for the management, direction and performance of us and our Group. Our Executive Director will be responsible for the day-to-day management of the Company. Our Non-Executive Directors will supervise the Executive Director and our
general affairs and provide general advice to the Executive Director.

Our CEO is the general manager of our business, subject to the
control of our Board, and is entrusted with all of our Boards powers, authorities and discretions (including the power to sub-delegate) delegated by the full Board from time to time by a resolution of our Board. Matters expressly delegated to
our CEO are validly resolved upon by our CEO and no further resolutions, approvals or other involvement of our Board is required. Our Board may also delegate authorities to its committees. Upon any such delegation our Board supervises the execution
of its responsibilities by our CEO and/or our Board committees. It remains ultimately responsible for the fulfillment of its duties by them.

Our articles of association provide that in the event we have a conflict of interest with one or more Directors, we may still be represented
by the Board or an Executive Director. In the event of a conflict of interest, however, our general meeting of shareholders has the power to designate one or more other persons to represent us. Our articles of association provide that in the event
we have a conflict of interest with one or more Directors, we may still be represented by the Board or an Executive Director. In the event of a conflict of interest, however, our general meeting of shareholders has the power to designate one or more
other persons to represent us. Under Dutch law, a Director is prohibited from participating in any Board discussion or decision making pertaining to a subject in which such director has a conflict of interest.



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Board Meetings and Decisions

All resolutions of our Board are adopted by an absolute majority of votes cast in a meeting at which at least the majority of the Directors are
present or represented. A member of the Board may authorize another member of the Board to represent him/her at the Board meeting and vote on his/her behalf. Each Director is entitled to one vote (provided that, for the avoidance of doubt, a member
representing one or more absent members of the Board by written power of attorney will be entitled to cast the vote of each such absent member). If there is a tie, the Chairman has the casting vote.

Our Board meets as often as it deems necessary or appropriate or upon the request of any member of our Board. Our Board has adopted rules,
which contain additional requirements for our decision-making process, the convening of meetings and, through separate resolution by our Board, details on the assignment of duties and a division of responsibilities between Executive Directors and
Non-Executive Directors. Our Board has appointed one of the Directors as Chairman and one of more Directors as Vice-Chairman of the Board. Our Board is further assisted by a corporate secretary. The corporate secretary may be a member of our Board
or our Senior Management and is appointed by our Board.

Composition of Board

The majority of our Directors are independent as required by the NYSE.

Our Board consists of a minimum of one Executive Director and a minimum of three Non-Executive Directors, provided that our Board is comprised
of a maximum of 7 (seven) members. The number of Executive Directors and Non-Executive Directors is determined by our general meeting of shareholders, provided that the majority of our Board must consist of Non-Executive Directors. Only natural
persons can be Non-Executive Directors. The Executive Directors and Non-Executive Directors as such are appointed by our general meeting of shareholders, provided that our Board is classified, with respect to the term for which each member of our
Board will severally be appointed and serve as member of our Board, into three classes, as nearly equal in number as reasonably possible.

The class I Directors serve for a term expiring at the annual general meeting of shareholders in 2017, the class II Directors serve for a term
expiring at the annual general meeting of shareholders in 2015, and the class III Directors serve for a term expiring at the annual general meeting of shareholders in 2016. At each annual general meeting of shareholders, Directors appointed to
succeed those Directors whose terms expire are appointed to serve for a term of office to expire at the third succeeding annual general meeting of shareholders after their appointment. Notwithstanding the foregoing, the Directors appointed to each
class continue to serve their term in office until their successors are duly appointed and qualified or until their earlier resignation, death or removal. If a vacancy occurs, any Director so appointed to fill that vacancy serves its term in office
for the remainder of the full term of the class of Directors in which the vacancy occurred.

Our Board has nomination rights with respect
to the appointment of a Director. Any nomination by our Board may consist of one or more candidates per vacant seat. If a nomination consists of a list of two or more candidates, it is binding and the appointment to the vacant seat concerned will be
from the persons placed on the binding list of candidates and will be effected through election. Notwithstanding the foregoing, our general meeting of shareholders may, at all times, by a resolution passed with a two-thirds majority of the votes
cast representing more than half of our issued and outstanding capital, resolve that such list of candidates will not be binding. See Item 7 Major Shareholder and Related Party TransactionsRelated Party
TransactionsShareholders Agreement with Baker Capital for nomination rights granted to Baker Capital.

Directors may be
suspended or removed at any time by our general meeting of shareholders. A resolution to suspend or remove a Director must be adopted by at least a two-thirds majority of the votes cast, provided such majority represents more than half of our issued
and outstanding share capital. Executive Directors may also be suspended by the Board.

Directors Insurance and Indemnification

In order to attract and retain qualified and talented persons to serve as members of our Board or our Senior Management, we currently do and
expect to continue to provide such persons with protection through a directors and officers insurance policy. Under this policy, any of our past, present or future Directors and members of our Senior Management will be insured against
any claim made against any one of them for any wrongful act in their respective capacities.

Under our articles of association, we are
required to indemnify each current and former member of our Board who was or is involved, in that capacity, as a party to any actions or proceedings, against all conceivable financial loss or harm suffered in connection with those actions or
proceedings, unless it is ultimately determined by a court having jurisdiction that the damage was caused by intent (opzet), willful recklessness (bewuste roekeloosheid) or serious culpability (ernstige verwijtbaarheid) on the
part of such member.



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Insofar as indemnification of liabilities arising under the Securities Act may be permitted to
members of our Board, officers or persons controlling us pursuant to the foregoing provisions, we have been informed that, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore
unenforceable.

Board Committees

Our
Board has established an audit committee, a compensation committee and a nominating committee. The audit committee is in compliance with the NYSE listed company board committee independence requirements. The compensation committee and the nominating
committee do not meet the NYSE independence standard. Rule 303A permits foreign private issuers like us to follow home country practice with regard to, amongst others, the independence requirement for the compensation committee and for the
nominating committee. Our Board may also establish such other committees as it deems appropriate, in accordance with applicable law and regulations and our articles of association and any applicable Board rules.

Many of the NYSE corporate governance rules do not apply to the Company as a foreign private issuer; however, Rule 303A.11
requires foreign private issuers to describe significant differences between their corporate governance standards and the corporate governance standards applicable to U.S. companies listed on the NYSE. While the Companys management believes
that its corporate governance practices are similar in many respects to those of U.S. NYSE-listed companies and provide investors with protections that are comparable in many respects to those established by the NYSE rules, there are certain key
differences which are described below.

Audit Committee

Our audit committee consists of three independent Directors, Rob Ruijter, Frank Esser and Mark Heraghty, with Rob Ruijter serving as the
chairperson of the audit committee. The audit committee is independent as defined under and required by Rule 10A-3 under the U.S. Securities Exchange Act of 1934, as amended (Rule 10A-3) and the NYSE. Our board of directors has
determined that Rob Ruijter qualifies as an audit committee financial expert, as that term is defined in Item 16A of Form 20-F. The audit committee has the responsibility, subject to Board and shareholder approval, for the
appointment, compensation, retention and oversight of the work of our independent registered public accounting firm, KPMG Accountants N.V. In addition, approval of the audit committee is required prior to our entering into any related-party
transaction. It is also responsible for whistle-blowing procedures, certain other compliance matters and the evaluation of the Companys policies with respect to risk assessment and risk management.

Compensation Committee

Our
compensation committee consists of two independent Directors, Frank Esser and Mark Heraghty, and one non-independent Director, John C. Baker, who serves as the chairperson of the compensation committee. Among other things, the compensation committee
reviews, and makes recommendations to the Board regarding, the compensation and benefits of our CEO and our Board. The compensation committee also administers the issuance of stock options and other awards under our equity incentive plan and
evaluates and reviews policies relating to the compensation and benefits of our employees and consultants.

Under Section 303A.05 of
the NYSE rules, which govern compensation committees, the Companys Compensation Committee does not meet the NYSE independence standard, as one (1) member of that committee is not independent as defined under the applicable
NYSE rules.

Nominating Committee

Our nominating committee consists of two independent Directors, Frank Esser and Mark Heraghty, and one non-independent Director, John C. Baker,
who serves as the chairman of the nominating committee. The nominating committee is responsible for, among other things, developing and recommending to our Board our corporate governance guidelines, identifying individuals qualified to become
Directors, overseeing the evaluation of the performance of the Board, selecting the Director nominees for the next annual meeting of shareholders, and selecting director candidates to fill any vacancies on the Board.

Under Section 303A.04 of the NYSE rules, which govern nominating/corporate governance committees, the Companys Nominating Committee
does not meet the NYSE independence standard, as one (1) member of that committee is not independent as defined under the applicable NYSE rules.



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Compensation

The aggregate annual compensation of our Senior Management and Non-Executive Directors for the year ended December 31, 2014 was
approximately 5.0 million.

The aggregate compensation of our Non-Executive, Executive Directors, and other Senior Management
members for the year ended December 31, 2014 is set forth below.



|                                            |  |                    |       |  |       |  |     |                           |  |  |                                      |  |  |       |    |  |  |  |       | 
|------------------------------------------- |  | ------------------ | ----- |  | ----- |  | --- | ------------------------- |  |  | ------------------------------------ |  |  | ----- | -- |  |  |  | ----- | 
|                                            |  | Annualcompensation |       |  | Bonus |  |     | Share-basedpaymentcharges |  |  | Termination /post-employmentbenefits |  |  | Total |   
|                                            |  |                    |       |  |       |  |     |                           |  |  | (000)                              |  |  |       |   
|D.C. Ruberg                                 |  |                    | 590   |  |       |  | 613 |                           |  |  | 872                                  |  |  |       |   |  |  |  | 2,075 | 
|J.C. Baker                                  |  |                    | 48    |  |       |  |    |                           |  |  | 40                                   |  |  |       |   |  |  |  | 88    | 
|F. Esser                                    |  |                    | 33    |  |       |  |    |                           |  |  | 20                                   |  |  |       |   |  |  |  | 53    | 
|M. Heraghty                                 |  |                    | 33    |  |       |  |    |                           |  |  | 20                                   |  |  |       |   |  |  |  | 53    | 
|J.F.H.P. Mandeville                         |  |                    | 63    |  |       |  |    |                           |  |  | 40                                   |  |  |       |   |  |  |  | 103   | 
|R.M. Manning                                |  |                    | 40    |  |       |  |    |                           |  |  | 40                                   |  |  |       |   |  |  |  | 80    | 
|R. Ruijter                                  |  |                    | 10    |  |       |  |    |                           |  |  | 10                                   |  |  |       |   |  |  |  | 20    | 
|D. Lister                                   |  |                    | 25    |  |       |  |    |                           |  |  | 22                                   |  |  |       |   |  |  |  | 47    | 
|C.G. van Luijk                              |  |                    | 38    |  |       |  |    |                           |  |  | 20                                   |  |  |       |   |  |  |  | 58    | 
|M. Massart                                  |  |                    | 30    |  |       |  |    |                           |  |  | 20                                   |  |  |       |   |  |  |  | 50    | 
|                                            |  |                    |       |  |       |  |     |                           |  |  |                                      |  |  |       |    |  |  |  |       | 
|Subtotal                                    |  |                    | 910   |  |       |  | 613 |                           |  |  | 1,104                                |  |  |       |   |  |  |  | 2,627 | 
|Senior Management (excluding D.C. Ruberg)1) |  |                    | 874   |  |       |  | 368 |                           |  |  | 1,110                                |  |  |       | 50 |  |  |  | 2,402 | 
|                                            |  |                    |       |  |       |  |     |                           |  |  |                                      |  |  |       |    |  |  |  |       | 
|Total                                       |  |                    | 1,784 |  |       |  | 981 |                           |  |  | 2,214                                |  |  |       | 50 |  |  |  | 5,029 | 
|                                            |  |                    |       |  |       |  |     |                           |  |  |                                      |  |  |       |    |  |  |  |       | 

None of the non-executive directors is entitled to any contractually agreed benefit upon termination. Upon
termination, the Executive Director is entitled to a contractually agreed benefit compensation equal to twelve months base salary.

Employee Share
Ownership Plans

On May 24, 2013, pursuant to the recommendation of our Compensation Committee, our Board adopted the 2013
International Equity Based Incentive Plan (the 2013 Plan). The 2013 Plan was implemented to replace the InterXion Holding N.V. 2011 International Stock Option Plan and Incentive Master Award Plan (the 2011 Plan). Pursuant to
further recommendation of our Compensation Committee, our Board amended the 2013 Plan and adopted the 2013 Amended International Equity Based Incentive Plan (the 2013 Amended Plan) on October 30, 2013. The 2013 Amended Plan was
further amended on March 17, 2014 by our Board, pursuant to the recommendation of our Compensation Committee to Clarify that the 2013 Amended Plan was adopted by the Board of Directors, instead of just by the Compensation Committee. The 2013
Amended Plan provides the Compensation Committee with the authority to award options, performance shares and restricted shares to certain employees and advisors.

We implemented the 2013 Amended Plan to attract and retain certain employees, advisors and board members and reward them for their
contributions to the Group. The 2013 Amended Plan is designed to act as an incentive scheme, whereby various equity-based instruments may be awarded from time-to-time in accordance with the terms and conditions of the 2013 Amended Plan. The 2013
Plan was discontinued following the implementation of the 2013 Amended Plan, however, outstanding options will continue to be governed by the terms of the 2013 Plan until such options have been exercised in full.

The total number of shares which may be granted pursuant to the 2013 Amended Plan is 5,273,371 shares (the Share Pool). The Share
Pool includes grants made under the 2011 Plan, the 2013 Plan and the 2013 Amended Plan. Shares subject to awards that expire, terminate or are otherwise surrendered, canceled or forfeited under the 2011 Plan, the 2013 Plan or the 2013 Amended Plan
are returned to the Share Pool. Taking into account the grants made under those plans, as of December 31, 2014, approximately 2.5 million shares are available for grant.



Notes:



|(1) | The compensation for the Senior Management team (excluding D.C. Ruberg) includes the compensation for J. Joshi, J. Camman, J.P. Anten for the full year and K. Dean (previous Chief Marketing Officer) up to and including
February 2014.
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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Under the 2011 Plan, our Board could grant options for ordinary shares to certain eligible
persons following completion of our initial public offering. The 2011 Plan was discontinued following the implementation of the 2013 Plan.

Our 2008 International Stock Option Plan and Incentive Master Award Plan (the 2008 Plan) was discontinued following our initial
public offering. Outstanding options, however, will continue to be governed by the terms of the 2008 Plan until such options have been exercised in full.

Corporate Governance

The Dutch Corporate
Governance Code, as revised, became effective on January 1, 2009, and applies to all Dutch companies listed on a government-recognized stock exchange, whether in The Netherlands or elsewhere. The Dutch Corporate Governance Code is based on a
comply or explain principle, under which all companies filing annual reports in The Netherlands must disclose whether or not they are in compliance with the various rules of the Dutch Corporate Governance Code and explain the reasons for
any instance of noncompliance.

With exception to Sections 303A.04 and 303A.05 of the NYSE rules, which govern nominating/corporate
governance committees and compensation committees, respectively, we intend to comply with the NYSE rules. We also intend to comply with the Dutch Corporate Governance Code, but where the NYSE rules conflict with the Dutch Corporate Governance Code
we intend to comply with the NYSE rules. For further information with respect to the composition of our Board committees, see the discussed above under Board Committees.

Stock Options, Restricted and Performance Shares

As of March 31, 2015 our directors and senior managers were granted the awards (options, restricted and performance shares outstanding) as
set forth below. The awards with exercise prices denominated in $ are awards granted under the 2011 Plan, the 2013 Plan and the 2013 Amended Plan. The restricted shares have been granted under the 2013 Amended Plan and the 2013 Plan, and the
performance shares have been granted under the 2013 Amended Plan.

The ordinary shares beneficially owned by our directors and senior managers are
disclosed in Item 7 Major Shareholders and Related Party Transactions.



|                    |  |                            |         |  |                                         |  |        |                        |  |   |                      |  |  |  |                   |       
|------------------- |  | -------------------------- | ------- |  | --------------------------------------- |  | ------ | ---------------------- |  | - | -------------------- |  |  |  | ----------------- | ------
|Name                |  | Awards granted outstanding |         |  | Awards granted outstanding, butunvested |  |        | AwardExercise Price(s) |  |   | AwardExpiration Date | 
|D. Ruberg           |  |                            | 600,000 |  |                                         |  |       |                        |  | $ | 14.74                |  |  |  | November 5, 2019  | (1)   
|                    |  |                            | 94,485  |  |                                         |  | 94,485 |                        |  | $ | 0.00                 |  |  |  | December 31, 2017 | (1)(2)
|J. Baker            |  |                            | 5,000   |  |                                         |  |       |                        |  | $ | 18.01                |  |  |  | June 27, 2017     |       
|                    |  |                            | 1,996   |  |                                         |  | 1,996  |                        |  | $ | 0.00                 |  |  |  | June 2015         | (3)   
|F. Esser            |  |                            | 1,996   |  |                                         |  | 1,996  |                        |  | $ | 0.00                 |  |  |  | June 2015         | (3)   
|M. Heraghty         |  |                            | 1,996   |  |                                         |  | 1,996  |                        |  | $ | 0.00                 |  |  |  | June 2015         | (3)   
|J.F.H.P. Mandeville |  |                            | 15,000  |  |                                         |  |       |                        |  | $ | 13.00                |  |  |  | June 29, 2016     |       
|                    |  |                            | 1,996   |  |                                         |  | 1,996  |                        |  | $ | 0.00                 |  |  |  | June 2015         | (3)   
|R. Manning          |  |                            | 5,000   |  |                                         |  |       |                        |  | $ | 18.01                |  |  |  | June 27, 2017     |       
|                    |  |                            | 1,996   |  |                                         |  | 1,996  |                        |  | $ | 0.00                 |  |  |  | June 2015         | (3)   
|R. Ruijter          |  |                            | 1,996   |  |                                         |  | 1,996  |                        |  | $ | 0.00                 |  |  |  | June 2015         | (3)   
|J. Joshi            |  |                            | 100,000 |  |                                         |  | 43,750 |                        |  | $ | 10.00                |  |  |  | October 31, 2020  | (1)   
|                    |  |                            | 18,660  |  |                                         |  | 18,660 |                        |  | $ | 0.00                 |  |  |  | December 31, 2017 | (1)(2)
|G. Di Vitantonio    |  |                            | 50,000  |  |                                         |  | 50,000 |                        |  | $ | 0.00                 |  |  |  | March 1, 2017     | (1)   
|J. Camman           |  |                            | 21,875  |  |                                         |  | 21,875 |                        |  | $ | 10.00                |  |  |  | October 31, 2020  | (1)   
|                    |  |                            | 7,500   |  |                                         |  | 7,500  |                        |  | $ | 0.00                 |  |  |  | January 1, 2018   | (1)   
|                    |  |                            | 12,512  |  |                                         |  | 12,512 |                        |  | $ | 0.00                 |  |  |  | December 31, 2017 | (1)(2)
|J.P. Anten          |  |                            | 11,250  |  |                                         |  | 11,250 |                        |  | $ | 11.50                |  |  |  | October 10, 2019  | (1)   
|                    |  |                            | 10,000  |  |                                         |  | 10,000 |                        |  | $ | 10.00                |  |  |  | January 11, 2021  | (1)   
|                    |  |                            | 7,500   |  |                                         |  | 7,500  |                        |  | $ | 0.00                 |  |  |  | January 1, 2018   | (1)   
|                    |  |                            | 11,917  |  |                                         |  | 11,917 |                        |  | $ | 0.00                 |  |  |  | December 31, 2017 | (1)(2)



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Notes:



|(1) | Represent awards of options, restricted and performance shares which contractually may vest and any lock up provisions will expire immediately upon a change of control.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(2) | Represent conditional awards of performance shares related to the year ended December 31, 2014. The actual initial performance shares award is subject to shareholder approval at the next General Meeting of
Shareholders, which we anticipate will be held in June 2015.
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(3) | Represent awards of restricted shares to Non-executive Directors that were approved at the General Meeting of Shareholders in June 2014. The awards will vest at the next General Meeting of Shareholders, which we
anticipate will be held in June 2015. After vesting, these restricted shares are subject to lock-up provisions.
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Employees

For a discussion of the number of employees, see Item 4 Information on the CompanyEmployees.



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ITEM 7: MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

Major Shareholders

The
following table sets forth information with respect to Directors, Senior Management and major shareholders, meaning shareholders that are beneficial owners of 5% or more of our ordinary shares as of March 31, 2015.

Beneficial ownership is determined in accordance with rules of the SEC and generally includes any shares over which a person exercises sole or
shared voting and/or investment power. Ordinary shares subject to options and warrants currently exercisable or exercisable within 60 days are deemed outstanding and have therefore been included in the number of shares beneficially owned and the
calculation of the percentage ownership of the person holding the options but are not deemed outstanding for computing the percentage ownership of any other person. Except as otherwise indicated, we believe the beneficial owners of the ordinary
shares listed below, based on information furnished by them, have sole voting and investment power with respect to the number of shares listed opposite their names. Except as otherwise set forth below, the address of each beneficial owner is c/o
InterXion Holding N.V., Tupolevlaan 24, 1119 NX Schiphol-Rijk, The Netherlands.



|                                            |  |                          |            |  |            |  |       |  
|------------------------------------------- |  | ------------------------ | ---------- |  | ---------- |  | ----- | -
|                                            |  | Shares BeneficiallyOwned |           
|Name of Beneficial Owner                    |  | Number                   |            |  | Percent(%) | 
|5% Shareholders                             |  |                          |            |  |            |  |       |  
|Baker Capital(1)(2)                         |  |                          | 18,677,892 |  |            |  | 26.85 | %
|Lamont Finance N.V.(1)(2)                   |  |                          | 18,642,916 |  |            |  | 26.80 | %
|Baker Capital Partners II, LLC(1)(2)        |  |                          | 20,000     |  |            |  | *     |  
|Baker Communications Fund II, L.P.(1)(2)(5) |  |                          | 14,976     |  |            |  | *     |  
|Eminence Capital, LP(3)                     |  |                          | 6,058,008  |  |            |  | 8.71  | %
|North Run Advisors, LLC(4)                  |  |                          | 4,950,300  |  |            |  | 7.12  | %
|                                            |  |                         
|Directors and Senior Management             |  |                          |            |  |            |  |       |  
|David Ruberg(5)(6)                          |  |                          | 1,388,000  |  |            |  | 2.00  | %
|John C. Baker(2)(5)                         |  |                          | 69,712     |  |            |  | *     |  
|Jean F.H.P. Mandeville(5)                   |  |                          | 17,047     |  |            |  | *     |  
|Robert M. Manning(2)(5)                     |  |                          | 19,238     |  |            |  | *     |  
|Josh Joshi(7)                               |  |                          | 64,360     |  |            |  | *     |  
|Giuliano Di Vitantonio(8)                   |  |                          | 13,300     |  |            |  | *     |  
|Jaap Camman(9)                              |  |                          | 3,125      |  |            |  | *     |  
|Jan Pieter Anten(10)                        |  |                          | 5,000      |  |            |  | *     |  



Notes:



|(1) | The address of Baker Communications Fund II, L.P. is 575 Madison Avenue, New York, NY 10022.
|--- | --------------------------------------------------------------------------------------------

|(2) | The board of managers of the general partners of each of Baker Capital Partners II and Baker Capital Partners (Anguilla) II (as general partner of Baker Communications Fund II (Cayman) which is sole shareholder and
managing director of Lamont Finance N.V.) consists of John C. Baker, Robert M. Manning and Henry G. Baker and each manager may be deemed to share voting and dispositive control over the shares held by those entities. Each of Mr. Baker
and Mr. Manning is currently a director on our board of directors. Each of Mr. Baker and Mr. Manning disclaims beneficial ownership of shares held by Baker Capital except to the extent of their respective pecuniary interest
therein.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(3) | Eminence Capital, LP filed a schedule 13G/A on February 17, 2015, in which it reported that 6,058,008 ordinary shares were held by direct and indirect subsidiaries of Eminence Capital, LP in their role as the management
company to the Eminence Funds, with respect to ordinary shares directly owned by the Eminence Funds and the investment advisor to Eminence GP, LLC, separately managed accounts (SMA), with respect to ordinary shares directly owned by the
SMA. Eminence Capital may be deemed to have voting and dispositive power over the shares held for the accounts of the Eminence Funds and the SMA.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(4) | North Run Advisors, LLC, North Run Capital, L.P., Todd B. Hammer and Thomas B. Ellis filed a schedule 13G on February 13, 2015 in which they reported they may be deemed the beneficial owners of 4,950,300 common stock.
This amount consists of (i) 4,275,000 shares of common stock and (ii) options exercisable to receive 675,300 shares of common stock. They have the shared power to vote and dispose of the 4,950,300 shares of common stock beneficially owned.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(5) | David Ruberg, Jean Mandeville, Frank Esser, Mark Heraghty, John Baker and Rob Manning own our shares, restricted shares (subject to lock-up provisions) and/or share options. Messrs. Baker and Manning are associated with
(i) Baker Capital, through Lamont Finance N.V., which owned 26.80% of our shares as of March 31, 2015; (ii) Baker Capital Partners II, LLC, and (iii) Baker Communications Fund II, L.P., which owned less than one percent of our shares as of
March 31, 2015.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(6) | David Ruberg is our President, Chief Executive Officer, Vice-Chairman and Executive Director. David Rubergs shares beneficially owned consist of our ordinary shares, performance shares and options for our
ordinary shares.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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|(7) | Josh Joshi is our Chief Financial Officer. Josh Joshis total shares beneficially owned consist of restricted shares, performance shares and options for our ordinary shares.
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(8) | Giuliano Di Vitantonio is our Chief Marketing Officer as of January 1, 2015. Giuliano Di Vitantonios total shares beneficially owned consist of restricted shares.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(9) | Jaap Camman is our Senior Vice President of Legal and Corporate Secretary. Jaap Cammans shares beneficially owned consist of restricted shares, performance shares and options for our ordinary shares.
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(10) | Jan Pieter Anten is our Vice President of Human Resources. Jan Pieter Antens shares beneficially owned consist of restricted shares, performance shares and options for our ordinary shares.
|---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

We effected a registered public offering of our ordinary shares and our ordinary shares began trading on the NYSE on January 28, 2011.
Accordingly, certain of our principal shareholders acquired their ordinary shares either at or subsequent to this time. Our major shareholders have the same voting rights as our other shareholders, but Baker Capital currently has the right to
nominate a majority of the members of our Board, as described below in Related Party Transactions  Shareholders Agreement with Baker Capital. As of March 31, 2015, we had 12 shareholders of record. Four of the shareholders of
record were located in the United States and held in the aggregate 69,463,524 ordinary shares representing approximately 99.9% of our outstanding ordinary shares. However, the United States shareholders of record include Cede & Co., which,
as nominee for The Depository Trust Company, is the record holder of 50,803,585 ordinary shares. Accordingly, we believe that the shares held by Cede & Co. include ordinary shares beneficially owned by both holders in the United States and
non-United States beneficial owners. As a result, these numbers may not accurately represent the number of beneficial owners in the United States.

Related Party Transactions

Shareholders Agreement with Baker Capital

On February 2, 2011, we entered into a shareholders agreement with affiliates of Baker Capital. For so long as Baker Capital or its
affiliates continue to be the owner of shares representing more than 25% of our outstanding ordinary shares, Baker Capital will have the right to designate for nomination a majority of the members of our Board. At such time that a majority of our
Board is required to be independent in accordance with the listing requirements of the NYSE, Baker Capital will remain entitled to designate for nomination four of the seven members of the Board, provided, that at least two of the Baker Capital
nominees shall satisfy the criteria for independent directors as set forth in the corporate governance rules of the NYSE.

For so long as
Baker Capital or its affiliates continues to be the owner of shares representing less than or equal to 25% but more than 15% of our outstanding ordinary shares, Baker Capital will have the right to designate for nomination three of the seven members
of our Board, at least one of whom shall satisfy the criteria for independent directors as set forth in the applicable listing standards. For so long as Baker Capital or its affiliates continues to be the owner of shares representing less than or
equal to 15% but more than 10% of our outstanding ordinary shares, Baker Capital will have the right to designate for nomination two of the seven members of our Board, none of whom shall be required to be independent. At such time that the ownership
of Baker Capital or its affiliates is less than or equal to 10% but more than 5% of our outstanding ordinary shares, Baker Capital will have the right to designate for nomination one of the seven members of our Board, who shall not be required to be
independent.

Furthermore, for so long as Baker Capital or its affiliates continues to be the owner of shares representing more than 25%
of our outstanding ordinary shares, Baker Capital will have the right, but not the obligation, to nominate the Chairman of our Board.

In
addition, as long as Baker Capital or its affiliates continues to be the owner of shares representing more than 15% of our outstanding ordinary shares, at least one of Baker Capitals director nominees shall be appointed to each of our standing
committees, provided that such Baker Capital nominees shall meet any independence or other requirements of the applicable listing standards.

In the event of a change in the number of members of our Board, Baker Capital will have the right to designate a proportional amount of the
members of the nominees for our Board to most closely approximate the rights described above.

Registration Rights Agreement

We have entered into a registration rights agreement with affiliates of Baker Capital (the Baker Shareholders), pursuant to which
30,801,491 ordinary shares are entitled to the registration rights described below. Of these shares 12,143,599 shares have been distributed by Baker Capital to its limited partners, of which 2,000,000 shares were distributed on November 18,
2014 and 10,143,599 shares March 15, 2012.

Demand registration rights. We are required to effect up to four
registrations at the request of one or more of the Baker Shareholders holding ordinary shares representing in the aggregate a majority of ordinary shares held by the Baker Shareholders (the Majority Baker Shareholders). We are not
required to effect a registration within 90 days after the effective date of a



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registration statement. We may not effect a registration for our own account (other than a registration effected solely with respect to an employee benefit plan or pursuant to a registration on
Form F-4 or S-4) within 90 days after any such registration without the consent of the Majority Baker Shareholders.

In the
event that the managing underwriter advises us that the number of ordinary shares requested to be included in such registration exceeds the number that can be sold in such offering without adversely affecting the underwriters ability to effect
an orderly distribution of such ordinary shares, we will include in the registration statement the number of ordinary shares that, in the opinion of the managing underwriter, can be sold. The allocation of such ordinary shares to be included in such
registration statement will be done on a pro rata basis.

Registration on Form F-3. If we are eligible under applicable
securities laws to file a registration statement on Form F-3, we will file a registration statement on Form F-3 at the request of the Majority Baker Shareholders. These shareholders may request such a registration no more than once every
six months. There is no limit to the number of such registrations that these shareholders may request. In connection with the foregoing registrations: (1) we are not required to effect a registration pursuant to a request by shareholders
holding registrable securities if, within the twelve month period preceding the date of such request, we have already effected one registration on Form F-3, (2) each registration on Form F-3 must be for anticipated proceeds of at
least U.S. $500,000, and (3) we may not effect a registration for our own account (other than a registration effected solely with respect to an employee benefit plan) within 90 days after any such registration without the consent of the
Majority Baker Shareholders.

Piggyback registration rights. Baker Shareholders also have the right to request the inclusion
of their registrable shares in any registration statements filed by us in the future for the purposes of a public offering, subject to specified exceptions. In the event that the managing underwriter advises that the number of our securities
included in such a request exceeds the number that can be sold in such offering without adversely affecting such underwriters ability to effect an orderly distribution of our securities, the shares will be included in the registration
statement in the following order of preference: first, the shares that we wish to include for our own account and second, ordinary shares held by the Baker Shareholders on a pro rata basis.

Termination. All registration rights granted to holders of registrable shares terminate when all ordinary shares resulting from the
conversion of the Preferred Shares have been effectively registered under the Securities Act, or, with respect to any holder, can be sold freely during a three-month period without registration under the Securities Act.

Expenses. We will be required to pay all expenses relating to up to two demand registration and up to two registrations on
Form F-3. We will be required to pay all expenses relating to piggyback registrations.

Irrevocable Undertaking Agreements

Irrevocable Undertaking Agreement by Lamont Finance N.V. and Baker Communications Fund II, L.P.On March 9, 2015, in
connection with our entry into the Implementation Agreement with TelecityGroup, Lamont Finance N.V. and Baker Communications Fund II, L.P. signed an irrevocable undertaking agreement with TelecityGroup in respect of their Interxion shares to, among
other things,: (i) not to sell their shares; and (ii) accept the offer to be made by TelecityGroup pursuant to the Implementation Agreement. In addition, Lamont Finance N.V. and Baker Communications Fund II, L.P. both agreed, subject to
certain exceptions, not to sell, transfer, charge, encumber, grant any option over or otherwise dispose of any interest in any shares of TelecityGroup issued to such parties in connection with the proposed transaction and not distributed to their
direct or indirect partners or any interest therein at any time before the date falling 180 days after the closing date of the proposed transaction.

Irrevocable Undertaking Agreement by David Ruberg. On March 9, 2015, in connection with our entry into the Implementation
Agreement with TelecityGroup, Mr. Ruberg signed an irrevocable undertaking agreement with TelecityGroup in respect of his Interxion shares to, among other things,: (i) not sell his shares; and (ii) accept the offer to be made by
TelecityGroup pursuant to the Implementation Agreement. In addition, Mr. Ruberg has undertaken to exercise his vested options related to 600,000 Interxion shares prior to the consummation of the proposed transaction, and that such shares (after
(i) sales to fund exercise costs, tax liabilities on such exercise and (ii) sales of up to $2,000,000 in net proceeds) will be exchanged in the proposed transaction.

Form of Irrevocable Undertaking Agreement for Other Directors of Interxion Holding N.V. On March 9, 2015, in connection with our
entry into the Implementation Agreement with TelecityGroup, Messrs. J. Baker, F. Esser, M. Heraghty, J.F.H.P. Mandeville, R. Manning and R. Ruijter each signed irrevocable undertaking agreement with TelecityGroup in respect of their Interxion shares
to, among other things,: (i) not to sell their shares; and (ii) accept the offer to be made by TelecityGroup pursuant to the Implementation Agreement. Mr. Ruberg and the other Directors, have also agreed, subject to certain
exceptions,



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not to not to sell, transfer, charge, encumber, grant any option over or otherwise dispose of any interest in any shares of TelecityGroup issued to such persons in connection with the proposed
transaction at any time before the date falling 180 days after the closing date of the proposed transaction.



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ITEM 8: FINANCIAL INFORMATION

Reference is made to Item 18 for a list of all financial statements filed as part of this annual report. For information on legal
proceedings, please refer to Item 4 Information on the Company, above.

Dividends and Dividend Policy

We have never declared or paid cash dividends on our ordinary shares. We currently intend to retain any future earnings to fund the development
and growth of our business and we do not currently anticipate paying dividends on our ordinary shares. Our board of directors will have the discretion to determine to what extent profits shall be retained by way of a reserve. The remaining profits
will be at the disposal of our general meeting of shareholders for distribution of a dividend or to be added to the reserves or for such other purposes as our general meeting of shareholders decides, upon a proposal of our board of directors. Our
board of directors, in determining whether to recommend to our shareholders the payment of dividends, will consider our ability to declare and pay dividends in light of our future operations and earnings, capital expenditure requirements, general
financial conditions, legal and contractual restrictions and other factors that it may deem relevant. In addition, our outstanding 475 million 6.00% Senior Secured Notes due 2020 and our credit agreements limit our ability to pay
dividends and we may in the future become subject to debt instruments or other agreements that further limit our ability to pay dividends. To the extent we pay dividends in euro, the amount of U.S. dollars realized by shareholders will vary
depending on the rate of exchange between U.S. dollars and euro. Shareholders will bear any costs related to the conversion of euro into U.S. dollars.

We are a holding company incorporated in The Netherlands. Under Dutch law, we may only pay dividends out of our profits or our share premium
account subject to our ability to service our debts as they fall due in the ordinary course of our business and subject to Dutch law and our articles of association. See Item 10 Additional InformationGeneral. We rely on
dividends paid to us by our wholly-owned subsidiaries in the United Kingdom, France, Germany, Austria, The Netherlands, Ireland, Spain, Sweden, Switzerland, Belgium and Denmark to fund the payment of dividends, if any, to our shareholders.



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ITEM 9: THE OFFER AND LISTING

Markets

Our ordinary shares began trading
on the NYSE under the symbol INXN on January 28, 2011.

New York Stock Exchange Trading History

The following table shows, for the periods indicated, the high and low sales prices per ordinary share as reported on the NYSE.



|                                        |  |                         |       |  |     |  |       | 
|--------------------------------------- |  | ----------------------- | ----- |  | --- |  | ----- | 
|Yearly highs and lows                   |  | High                    |       |  | Low | 
|                                        |  | ($ per ordinary shares) |      
|2014                                    |  |                         | 29.01 |  |     |  | 23.25 | 
|                                        |  |                        
|Quarterly highs and lows                |  | High                    |       |  | Low | 
|                                        |  | ($ per ordinary shares) |      
|2015                                    |  |                         |       |  |     |  |       | 
|First quarter                           |  |                         | 32.50 |  |     |  | 26.47 | 
|Second quarter (through April 17, 2015) |  |                         | 30.73 |  |     |  | 28.59 | 
|                                        |  |                        
|2014                                    |  |                         |       |  |     |  |       | 
|First quarter                           |  |                         | 25.81 |  |     |  | 23.25 | 
|Second quarter                          |  |                         | 27.59 |  |     |  | 23.64 | 
|Third quarter                           |  |                         | 29.01 |  |     |  | 26.58 | 
|Fourth quarter                          |  |                         | 28.60 |  |     |  | 24.97 | 
|                                        |  |                        
|2013                                    |  |                         |       |  |     |  |       | 
|First quarter                           |  |                         | 26.28 |  |     |  | 22.56 | 
|Second quarter                          |  |                         | 27.67 |  |     |  | 22.73 | 
|Third quarter                           |  |                         | 27.32 |  |     |  | 22.24 | 
|Fourth quarter                          |  |                         | 23.61 |  |     |  | 20.67 | 
|                                        |  |                        
|2012                                    |  |                         |       |  |     |  |       | 
|First quarter                           |  |                         | 18.10 |  |     |  | 13.57 | 
|Second quarter                          |  |                         | 20.28 |  |     |  | 15.82 | 
|Third quarter                           |  |                         | 22.72 |  |     |  | 17.49 | 
|Fourth quarter                          |  |                         | 23.76 |  |     |  | 20.26 | 
|                                        |  |                        
|2011                                    |  |                         |       |  |     |  |       | 
|First quarter (from January 28, 2011)   |  |                         | 15.88 |  |     |  | 12.11 | 
|Second quarter                          |  |                         | 15.62 |  |     |  | 12.93 | 
|Third quarter                           |  |                         | 15.39 |  |     |  | 10.71 | 
|Fourth quarter                          |  |                         | 14.24 |  |     |  | 11.12 | 
|                                        |  |                        
|Monthly highs and lows                  |  | High                    |       |  | Low | 
|                                        |  | ($ per ordinary shares) |      
|2015                                    |  |                         |       |  |     |  |       | 
|January                                 |  |                         | 28.24 |  |     |  | 27.29 | 
|February                                |  |                         | 32.50 |  |     |  | 26.47 | 
|March                                   |  |                         | 31.12 |  |     |  | 28.06 | 
|April (through April 17, 2015)          |  |                         | 30.73 |  |     |  | 28.59 | 
|                                        |  |                        
|2014                                    |  |                         |       |  |     |  |       | 
|October                                 |  |                         | 27.52 |  |     |  | 24.97 | 
|November                                |  |                         | 28.60 |  |     |  | 27.21 | 
|December                                |  |                         | 27.81 |  |     |  | 25.98 | 

On April 17, 2015, the closing price of InterXions ordinary shares listed on The New York Stock Exchange
was $30.73.



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ITEM 10: ADDITIONAL INFORMATION

Material contracts

The Intercreditor Agreement dated as of July 3, 2013, among InterXion Holding N.V. and certain of its subsidiaries and Barclays Bank
PLC as security trustee.

The intercreditor agreement entered into in connection with the Revolving Facility Agreement and the
Indenture is referred to in this description as the Intercreditor Agreement and InterXion Holding N.V. and each of its subsidiaries that incurs any liability or provides any guarantee under the Revolving Facility Agreement or the
Indenture is referred to in this description as a Debtor and are referred to collectively as the Debtors.

In
connection with the Revolving Facility Agreement, InterXion Holding N.V. and certain of its subsidiaries entered into an English law governed intercreditor agreement governing the relationships and relative priorities among: (i) the Lenders (as
defined below); (ii) original hedge counterparty or other persons that accede to the intercreditor agreement as counterparties to certain hedging agreements (the Hedging Agreements; the original hedge counterparty and any other
person that accedes to the intercreditor agreement as counterparties to the Hedging Agreements are referred to in such capacity as the Hedge Counterparties); (iii) the holders of the Senior Secured Notes and (iv) intra-group
creditors and debtors. In addition, the intercreditor agreement regulates the relationship between InterXion Holding N.V. and its subsidiaries, on the one hand, and shareholders of InterXion Holding N.V. and related parties, on the other hand.

The Intercreditor Agreement, among other things, sets out:



| |  |  | the relative ranking of certain indebtedness of the Debtors (including under the Revolving Facility Agreement and the Senior Secured Notes);
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the relative ranking of certain security granted by the Debtors;
| | - |  | ----------------------------------------------------------------



| |  |  | when payments can be made in respect of certain indebtedness of the Debtors (including the Revolving Facility Agreement and the Senior Secured Notes);
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | when enforcement actions can be taken in respect of that indebtedness and the distribution of any enforcement proceeds;
| | - |  | -----------------------------------------------------------------------------------------------------------------------



| |  |  | the terms pursuant to which that indebtedness will be subordinated upon the occurrence of certain insolvency events;
| | - |  | --------------------------------------------------------------------------------------------------------------------



| |  |  | turnover provisions; and
| | - |  | ------------------------



| |  |  | when security and guarantees will be released to permit a sale of the collateral.
| | - |  | ---------------------------------------------------------------------------------

The
Intercreditor Agreement allows for the issuance of senior unsecured notes by InterXion Holding N.V., and for such senior unsecured notes to be guaranteed by the Debtors on a subordinated basis, and includes customary provisions in relation to
issuance of the senior unsecured notes. By accepting a note, holders of the notes shall be deemed to have agreed to, and accepted the terms and conditions of, the Intercreditor Agreement.

Revolving Facility Agreement dated as of June 17, 2013, among InterXion Holding N.V. and the financial institutions party thereto,
as Lenders and Barclays Bank PLC, as agent and security trustee.

On June 17, 2013, we entered into the English law governed
Revolving Facility Agreement between, among others, InterXion Holding N.V., the lenders named therein (the Lenders) and Barclays Bank PLC as agent (the Agent) and security trustee, pursuant to which a 100.0 million
revolving facility has been made available to the Company.

Borrowings under the Revolving Facility will be used to finance our general
corporate and working capital needs (including capital expenditure, acquisitions and investments, which are not prohibited by the Revolving Facility Agreement), but not the prepayment, repayment or redemption of bonds, term debt or replacement debt
(or any interest in any bonds, term debt or replacement debt) and the purchase of bonds, term debt or replacement debt in open market purchases or otherwise (as such terms are defined in the Revolving Facility Agreement).

The Revolving Facility initially bears interest at a rate per annum equal to EURIBOR (or, for loans denominated in Sterling, USD, DKK, SEK or
CHF, LIBOR, CIBOR or STIBOR (as applicable)) plus a margin of 3.50% per annum, subject to a margin ratchet pursuant to which the margin may be reduced by up to a maximum of 1.00% per annum if total net debt (as defined in the Revolving
Facility Agreement) at each quarter end to the pro forma EBITDA for the twelve months ending on that quarter end (as such terms are defined in the Revolving Facility Agreement) is equal to or less than 2.00:1.



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We are also required to pay a commitment fee, quarterly in arrears, on available but undrawn
commitments under the Revolving Facility at a rate of 40.0% of the then applicable margin.

The Revolving Facility Agreement has a final
maturity date of July 3, 2018. Any amount still outstanding at that time will be immediately due and payable. Subject to certain conditions, any borrower under the Revolving Facility Agreement may voluntarily prepay the utilizations and the
borrower may permanently cancel all or part of the available commitments under the Revolving Facility in a minimum amount of 5,000,000 by giving not less than three business days (or such shorter period as the required majority lenders
under the Revolving Facility Agreement agree) prior notice to the Agent (as defined in the Revolving Facility Agreement).

We may reborrow
amounts repaid, subject to certain conditions, until one month prior to final maturity.

In addition to voluntary prepayments, the
Revolving Facility Agreement requires mandatory prepayment (or, as the case may be, an offer to do so) in full or in part in certain circumstances, including:



| |  |  | with respect to any lender, if it becomes unlawful for such lender to perform any of its obligations under the Revolving Facility Agreement or to maintain its participation in any loan under the Revolving Facility;
| | - |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | if a lender so requires in respect of that lenders participation in an outstanding loan under the Revolving Facility, upon a Change of Control (as defined in the Revolving Facility Agreement); and/or
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | upon the occurrence of the sale of all or substantially all of the assets of the Group.
| | - |  | ---------------------------------------------------------------------------------------

Drawdowns under the Revolving Facility are subject to satisfaction of certain conditions precedent on the date the applicable drawdown is
requested and on the date such loan is utilized including: (i) no default (or event of default for rollover of existing loans at the end of an interest period) is continuing or would result from such drawdown and (ii) certain repeating
representations and warranties specified in the Revolving Facility Agreement being true in all material respects.

The Revolving Facility
is guaranteed irrevocably and unconditionally on a joint and several basis by certain members of the Group (subject to applicable local law limitations). Borrowings under the Revolving Facility are secured by various share pledges, inter-company
loan receivables owed to the Company or any of the guarantors under the Revolving Facility and the bank accounts of the Company and the guarantors under the Revolving Facility.

The Revolving Facility Agreement contains customary operating and restrictive covenants, subject to certain agreed exceptions, qualifications
and thresholds as well as customary events of default (subject in certain cases to agreed grace periods, qualifications and thresholds), including a cross default with respect to an event of default under the Indenture (as defined below) governing
the Senior Secured Notes due 2020 (as defined below). The Revolving Facility also requires InterXion Holding N.V., each borrower and each guarantor to observe certain customary affirmative covenants (subject to certain agreed exceptions,
qualifications and thresholds) and requires InterXion Holding N.V. to comply with a leverage ratio financial covenant (calculated as the ratio of consolidated total net debt at each quarter end to pro forma EBITDA for the twelve months ending on
that quarter end).

The Indenture date July 3, 2013, among InterXion Holding N.V., as Issuer, the initial guarantors, the Bank
of New York Mellon, London Branch, as trustee, principal paying agent and transfer agent, The Bank of New York Mellon (Luxembourg) S.A., as registrar and Luxembourg paying agent and Barclays Bank PLC, as security trustee.

On July 3, 2013, the Company issued an aggregate principal amount of 325 million 6.00% Senior Secured Notes due 2020 (the
Initial Notes). On April 29, 2014, the Company issued a further 150 million aggregate principal amount of 6.00% Senior Secured Notes due 2020 (the Additional Notes and together with the Initial Notes, the
Senior Secured Notes). The Additional Notes were issued pursuant to the same indenture as the Initial Notes.

The aggregate
475 million Senior Secured Notes due 2020 are governed by an indenture dated July 3, 2013, between the Company, as issuer, and The Bank of New York Mellon, London Branch as Trustee. The indenture contains customary restrictive



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covenants, including but not limited to limitations or restrictions on our ability to incur debt, grant liens, make restricted payments and sell assets. The restrictive covenants are subject to
customary exceptions and are governed by a consolidated fixed charge ratio to exceed 2.00 and a consolidated senior leverage ratio not to exceed 4.00.

The obligations under the 475 million Senior Secured Notes due 2020 are guaranteed by certain of the Companys subsidiaries.

The Company may redeem all or part of the 475 million Senior Secured Notes due 2020. The Company has the following redemption
rights:

Optional Redemption prior to July 15, 2016 upon an equity offering

At any time prior to July 15, 2016, upon not less than 10 nor more than 60 days notice, we may on any one or more occasions redeem
up to 35% of the aggregate principal amount of Senior Secured Notes at a redemption price of 106.000% of their principal amount, plus accrued and unpaid interest, if any, to the redemption date, with the net proceeds from one or more equity
offerings. We may only do this, however, if:



| | (a) | at least 65% of the aggregate principal amount of Senior Secured Notes that were initially issued (calculated after giving effect to the issuance of any additional notes) would remain outstanding immediately after the
proposed redemption; and
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | the redemption occurs within 90 days after the closing of such equity offering.
| | --- | -------------------------------------------------------------------------------

Optional
Redemption prior to July 15, 2016

Prior to July 15, 2016, upon not less than 10 nor more than 60 days notice, we may
during each 12-month period commencing on July 3 redeem up to 10% of the aggregate principal amount of the Senior Secured Notes (calculated after giving effect to the issuance of any additional notes) at a redemption price equal to 103.000% of
the principal amount redeemed plus accrued and unpaid interest, if any, to the redemption date.

At any time prior to July 15, 2016,
upon not less than 10 nor more than 60 days notice, we may also redeem all or part of the Senior Secured Notes at a redemption price equal to 100% of the principal amount thereof plus the applicable redemption premium and accrued and unpaid
interest to the redemption date.

Optional Redemption on or after July 15, 2016

At any time on or after July 15, 2016 and prior to maturity, upon not less than 10 nor more than 60 days notice, we may redeem all
or part of the Senior Secured Notes. These redemptions will be in amounts of 100,000 or integral multiples of 1,000 in excess thereof at the following redemption prices (expressed as percentages of their principal amount at maturity),
plus accrued and unpaid interest, if any, to the redemption date, if redeemed during the 12-month period commencing on July 15 of the years set forth below.



|                    |  |                  |         |  
|------------------- |  | ---------------- | ------- | -
|Year                |  | Redemption Price |        
|2016                |  |                  | 104.500 | %
|2017                |  |                  | 103.000 | %
|2018                |  |                  | 101.500 | %
|2019 and thereafter |  |                  | 100.000 | %

General

Incorporation and Registered Office

We
were incorporated on April 6, 1998 as a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) under the laws of The Netherlands. On January 11, 2000, we were converted from a B.V. to a limited
liability company (naamloze vennootschap) under the laws of The Netherlands.



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Our corporate seat is in Amsterdam, The Netherlands. We are registered with the Trade Register of
the Chamber of Commerce in Amsterdam under number 33301892. Our executive offices are located at Tupolevlaan 24, 1119 NX Schiphol-Rijk, The Netherlands. Our telephone number is +31 20 880 7600.

Articles of Association and Dutch Law

Set forth below is a summary of relevant information concerning our share capital and of material provisions of our articles of association
(the Articles) and applicable Dutch law. This summary does not constitute legal advice regarding those matters and should not be regarded as such.

Corporate Purpose

Pursuant to Article 3 of our Articles, our corporate purpose is:



| | (a) | to incorporate, to participate in any way whatsoever in, to manage, to supervise businesses and companies;
| | --- | ----------------------------------------------------------------------------------------------------------



| | (b) | to finance businesses and companies;
| | --- | ------------------------------------



| | (c) | to borrow, to lend and to raise funds, including through the issue of bonds, debt instruments or other securities or evidence of indebtedness as well as to enter into agreements in connection with aforementioned
activities;
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (d) | to render advice and services to businesses and companies with which the Company forms a group and to third parties;
| | --- | --------------------------------------------------------------------------------------------------------------------



| | (e) | to grant guarantees, to bind the Company and to pledge its assets for obligations of businesses and companies with which it forms a group and on behalf of third parties; and
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (f) | to perform any and all activities of an industrial, financial or commercial nature, and to do all that is connected therewith or may be conducive thereto, all to be interpreted in the broadest sense.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Issue of Ordinary Shares

Our Articles provide that we may issue ordinary shares, or grant rights to subscribe for ordinary shares, pursuant to a resolution of our
general meeting of shareholders upon a proposal of our Board. Our Articles provide that our general meeting of shareholders may, upon a proposal of our Board, designate another corporate body, which can only be our Board, as the competent body to
issue ordinary shares, or grant rights to subscribe for ordinary shares. Pursuant to our Articles and Dutch law, the period of designation may not exceed five years, but may be renewed by a resolution of our general meeting of shareholders for
periods of up to five years. If not otherwise stated in the resolution approving the designation, such designation is irrevocable. The resolution designating our Board must specify the number of shares which may be issued and, if applicable, any
conditions to the issuance.

Our Board is designated as the corporate body competent to issue ordinary shares and to grant rights to
subscribe for ordinary shares. This authority is limited to a maximum equal to our authorized share capital from time to time. Our Boards authority to issue ordinary shares and grant rights to acquire ordinary shares is for a period of five
years expiring on January 28, 2016. Our general meeting of shareholders may extend this period at any time, subject to the limitations set out above.

Ordinary shares may not be issued at less than their nominal value and must be fully paid up upon issue.

No resolution of our general meeting of shareholders or our Board is required for an issue of ordinary shares pursuant to the exercise of a
previously granted right to subscribe for ordinary shares.

Pre-emptive Rights

Dutch law and our Articles generally give our shareholders pre-emptive rights to subscribe on a pro rata basis for any issue of new ordinary
shares or grant of rights to subscribe for ordinary shares. Exceptions to these pre-emptive rights include: (i) the issue of ordinary shares and the grant of rights to subscribe for ordinary shares to our employees, (ii) the issue of
ordinary shares and the grant of rights to subscribe for ordinary shares in return for non-cash consideration and (iii) the issue of ordinary shares to persons exercising a previously-granted right to subscribe for ordinary shares.

A shareholder has the legal right to exercise pre-emption rights for at least two weeks after the date of the announcement of the issue or
grant. However, our general meeting of shareholders, or our Board if so designated by our general meeting of shareholders, may restrict or exclude pre-emptive rights. A resolution by our general meeting of shareholders to designate another corporate
body, which can only be our Board, as the competent authority to exclude or restrict pre-emptive rights requires a



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proposal by our Board and approval by a majority of at least two-thirds of the valid votes cast at our general meeting of shareholders if less than half of our issued and outstanding share
capital is present or represented. A simple majority is sufficient if more than half of our issued and outstanding share capital is present or represented. A resolution by our general meeting of shareholders to designate our Board as the competent
authority to exclude or restrict pre-emptive rights must be for a fixed period not exceeding five years and is only possible if our Board is simultaneously designated as the corporate body authorized to issue ordinary shares. If not otherwise stated
in the resolution approving designation, such designation is irrevocable. If our general meeting of shareholders has not designated our Board, our general meeting of shareholders itself is the corporate body authorized to restrict or exclude
pre-emptive rights upon a proposal by our Board.

Our Board is designated as the corporate body authorized to limit or exclude pre-emptive
rights, subject to the limited authority it has to issue ordinary shares and grant rights to subscribe for ordinary shares as set out under Issue of Ordinary Shares above, for a period of ending on January 28, 2016.

Reduction of Share Capital

Our general meeting of shareholders may, subject to Dutch law and our Articles and only upon a proposal of our Board, resolve to reduce our
issued share capital by cancellation of ordinary shares or reduction of the nominal value of ordinary shares by amendment of our Articles. A resolution of our general meeting of shareholders to reduce the issued share capital must designate the
ordinary shares to which the resolution applies and must make provisions for the implementation of such resolution. A resolution to cancel ordinary shares may only be adopted in relation to ordinary shares or depositary receipts for such shares we
hold ourselves. A partial repayment or exemption from the obligation to pay up ordinary shares must be made pro rata, unless all of our shareholders agree otherwise. A resolution at our general meeting of shareholders to reduce our issued share
capital requires a majority of at least two-thirds of the votes validly cast at a meeting at which less than half of our issued and outstanding share capital is present or represented. A simple majority is sufficient if more than half of our issued
and outstanding share capital is present or represented.

Acquisition of Ordinary Shares

We may acquire our own fully paid up ordinary shares at any time for no consideration, or, subject to certain provisions of Dutch law and our
Articles, if (i) our shareholders equity minus the payment required to make the acquisition, does not fall below the sum of called-up and paid-up share capital and any statutory reserves we must maintain by Dutch law or our Articles, and
(ii) we and our subsidiaries would thereafter not hold ordinary shares or rights of pledge over ordinary shares with an aggregate nominal value exceeding 50% of our issued and outstanding share capital.

Dutch law generally and more specifically, the Dutch Civil Code, imposes minimum capital and other reserve requirements on legal entities as a
way of protecting shareholders and creditors and maintaining the capital of a company. Such minimum capital and reserve requirements include, among other things, complying with certain minimum capital requirements when declaring and paying dividends
and repurchasing shares in its own capital, maintaining reserves on the granting of legitimate financial assistance loans by a public limited company and maintaining reserves on the re-evaluation of assets.

An acquisition of ordinary shares for a consideration must be authorized by our general meeting of shareholders. Such authorization may be
granted for a maximum period of 18 months and must specify the number of ordinary shares that may be acquired, the manner in which ordinary shares may be acquired and the price limits within which ordinary shares may be acquired. Authorization is
not required for the acquisition of ordinary shares in order to transfer them to our employees. The actual acquisition may only be effected by a resolution of our Board.

Any ordinary shares held by us in our own capital may not be voted on or counted for quorum purposes.

Exchange Controls and Other Provisions Relating to Non-Dutch Shareholders

There are no Dutch exchange control restrictions on investments in, or payments on, the ordinary shares. There are no special restrictions in
our Articles or Dutch law that limit the right of shareholders who are not citizens or residents of The Netherlands to hold or vote the ordinary shares.

Dividends and Distributions

We may only make distributions to our shareholders in so far as our equity exceeds the sum of our paid-in and called-up share capital plus the
reserves we are required to maintain by Dutch law or our proposed Articles. Under our Articles, our Board may determine that a portion of the profits of the current financial year shall be added to our reserves. The remaining profits are at the
disposal of our general meeting of shareholders.



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We may only make distributions of dividends to our shareholders after the adoption of our
statutory annual accounts from which it appears that such distributions are legally permitted. However, our Board may resolve to pay interim dividends on account of the profits of the current financial year if the equity requirement set out above is
met, as evidenced by an interim statement of assets and liabilities relating to the condition of such assets and liabilities on a date no earlier than the first day of the third month preceding the month in which the resolution to distribute interim
dividends is made public. Our general meeting of shareholders may resolve, upon a proposal to that effect by our Board, to pay distributions at the expense of any of our reserves.

Additionally, if we choose to declare dividends, the payment of cash dividends on our shares is restricted under the terms of the agreements
governing our indebtedness.

Dividends and other distributions may be made in cash or, but only at all times with the approval of the
Board, in ordinary shares. Dividends and other distributions are due and payable as from the date determined by the corporate body resolving on the distribution. Claims to dividends and other declared distributions lapse after five years from the
date that such dividends or distributions became payable and any such amounts not collected within this period revert to us and are allocated to our general reserves.

General Meetings of Shareholders and Voting Rights

Our annual general meeting of shareholders must be held within six months after the end of each of our financial years. It must be held in The
Netherlands in Amsterdam, Haarlemmermeer (Schiphol Airport) or Hoofddorp. Our financial year coincides with the calendar year. An extraordinary general meeting of shareholders may be convened whenever our Board or CEO deems such necessary.
Shareholders representing at least 10% of our issued and outstanding share capital may, pursuant to Dutch law and our Articles, request that a general meeting of shareholders be convened, specifying the items for discussion. If our Board has not
convened a general meeting of shareholders within four weeks of such request such that such meeting can be held within six weeks following such request, the shareholders requesting such meeting are authorized to call such meeting themselves with due
observance of the relevant provisions of our Articles.

The notice convening any general meeting of shareholders must include an agenda
indicating the items for discussion, or it must state that the shareholders and any holders of depositary receipts for ordinary shares may review such agenda at our main offices in The Netherlands. We will have the notice published by electronic
means of communication which is directly and permanently accessible until the meeting and in such other manner as may be required to comply with any applicable rules of the NYSE. The explanatory notes to the agenda must contain all facts and
circumstances that are relevant for the proposals on the agenda. Such explanatory notes and the agenda will be placed on our website.

Shareholders holding at least 1% of our issued and outstanding share capital or ordinary shares representing a value of at least
50 million may submit agenda proposals for any general meeting of shareholders. Provided we receive such proposals no later than 60 days before the date of the general meeting of shareholders, and provided that such proposal does not,
according to our Board, conflict with our vital interests, we will have the proposals included in the notice.

Each of the ordinary shares
confers the right to cast one vote. Each shareholder entitled to participate in a general meeting of shareholders, either in person or through a written proxy, is entitled to attend and address the meeting and, to the extent that the voting rights
accrue to him, to exercise his voting rights in accordance with our Articles. The voting rights attached to any ordinary shares, or ordinary shares for which depositary receipts have been issued, are suspended as long as they are held in treasury.

Our Board may allow shareholders to, in person or through a person holding a written proxy, participate in a general meeting of
shareholders, including to take the floor and, to the extent applicable, to exercise voting rights, through an electronic means of communication. Our Board selects the means of electronic communication and may subject its use to conditions.

To the extent that our Articles or Dutch law do not require a qualified majority, all resolutions of our general meeting of shareholders shall
be adopted by a simple majority of the votes cast.

The following resolutions of our general meeting of shareholders may only be adopted
upon a proposal by our Board:



| | (a) | to effect a statutory merger (juridische fusie) or demerger (juridische splitsing);
| | --- | -----------------------------------------------------------------------------------



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| | (b) | to issue ordinary shares or to restrict or exclude pre-emption rights on ordinary shares to the extent the authority to issue has not been delegated to our Board;
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | to designate our Board as the corporate body authorized to issue ordinary shares or rights to subscribe for ordinary shares and to restrict or to exclude the pre-emption rights on ordinary shares or rights to subscribe
for ordinary shares;
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (d) | to reduce our issued share capital;
| | --- | -----------------------------------



| | (e) | to make a whole or partial distribution of reserves;
| | --- | ----------------------------------------------------



| | (f) | to amend our articles of association or change our corporate form; and
| | --- | ----------------------------------------------------------------------



| | (g) | to dissolve us.
| | --- | ---------------

Amendment of our Articles of Association

Our general meeting of shareholders may resolve to amend our Articles upon a proposal made by our Board.

Dissolution and Liquidation

Under our Articles, we may be dissolved by a resolution of our general meeting of shareholders upon a proposal of our Board.

In the event of dissolution, our business will be liquidated in accordance with Dutch law and our Articles and the liquidation shall be
effected by our Board. During liquidation, the provisions of our Articles will remain in force to the extent possible. Any assets remaining upon completion of the dissolution will be distributed to the holders of ordinary shares in proportion to the
aggregate nominal amount of their ordinary shares.

Disclosure of Information

Dutch law contains specific rules intended to prevent insider trading, tipping and market manipulation. We are subject to these rules and
accordingly, we have adopted a code of securities dealings in relation to our securities.

Squeeze Out

If a shareholder, alone or together with group companies, (the Controlling Entity) holds a total of at least 95% of a
companys issued share capital by nominal value for its own account, Dutch law permits the Controlling Entity to acquire the remaining shares in the controlled entity (the Controlled Entity) by initiating proceedings against the
holders of the remaining shares. The price to be paid for such shares will be determined by the Enterprise Chamber of the Amsterdam Court of Appeal (the Enterprise Chamber). A Controlling Entity that holds less than 95% of the shares in
the Controlled Entity, but that in practice controls the Controlled Entitys general meeting of shareholders, could attempt to obtain full ownership of the business of the Controlled Entity through a legal merger of the Controlled Entity with
another company controlled by the Controlling Entity, by subscribing to additional shares in the Controlled Entity (for example, in exchange for a contribution of part of its own business), through another form of reorganization aimed at raising its
interest to 95% or through other means.

In addition to the general squeeze-out procedure mentioned above, following a public offer a
holder of at least 95% of the outstanding shares and voting rights has the right to require the minority shareholders to sell their shares to it. To the extent there are two or more types of shares the request can only be made with regard to the
type of shares of which the shareholder holds at least 95% in aggregate representing at least 95% of the voting rights attached to those shares. Any request to require the minority shareholders to sell their shares must be filed with the Enterprise
Chamber within three months after the end of the acceptance period of the public offer. Conversely, in such a case, each minority shareholder has the right to require the holder of at least 95% of the outstanding shares and voting rights to purchase
its shares. The minority shareholders must file such claim with the Enterprise Chamber within three months after the end of the acceptance period of the public offer.

Reporting of Insider Transactions

Pursuant to the Dutch Financial Supervision Act, the Directors and any other person who has managerial responsibilities or who has the
authority to make decisions affecting our future developments and business prospects or who has regular access to inside information relating, directly or indirectly, to us (each an Insider), must notify The Netherlands Authority for the
Financial Markets (AFM) of all transactions conducted for his own account relating to ordinary shares or securities the value of which is determined by the value of ordinary shares. The Netherlands Authority for the Financial Markets
must be notified within five days following the transaction date. Notification may be postponed until the date the value of the transactions amounts to 5,000 or more per calendar year.



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In addition, persons designated by the Decree on Market Abuse pursuant to the Dutch Financial
Supervision Act (Besluit Marktmisbruik Wft) (the Market Abuse Decree) who are closely associated with an Insider must notify The Netherlands Authority for the Financial Markets of any transactions conducted for their own account
relating to ordinary shares or securities the value of which is determined by the value of the ordinary shares. The Market Abuse Decree designates the following categories of persons: (i) the spouse or any partner considered by national law as
equivalent to the spouse, (ii) dependent children, (iii) other relatives who have shared the same household for at least one year prior to the relevant transaction date, and (iv) any legal person, trust or partnership whose managerial
responsibilities are discharged by, which is controlled by, which has been incorporated for the benefit of, or whose economic interests are the same as, a person referred to in the previous paragraph or under (i), (ii) or (iii) above.

The AFM keeps a public register of all notifications made pursuant to the Dutch Financial Supervision Act.

Pursuant to the rules against insider trading we have, among other things, further adopted rules governing the holding of, reporting and
carrying out of transactions in our securities by the Directors or our employees. Further, we have drawn up a list of those persons working for us who could have access to inside information on a regular or incidental basis and have informed the
persons concerned of the rules against insider trading and market manipulation including the sanctions which can be imposed in the event of a violation of those rules.

Non-compliance with the notification obligations under the market abuse obligations laid down in the Dutch Financial Supervision Act may lead
to criminal fines, administrative fines, imprisonment or other sanctions.

Comparison of Dutch Corporate Law and U.S. Corporate Law

The following comparison between Dutch corporation law, which applies to us, and Delaware corporation law, the law under which
many corporations in the United States are incorporated, discusses additional matters not otherwise described in this annual report.

Duties of directors

The Netherlands

Under Dutch law the board of directors is collectively responsible for the policy and day-to-day management of the Company. The non-executive
directors will be assigned the task of supervising the executive directors and providing them with advice. Each director has a duty to the Company to properly perform the duties assigned to him. Furthermore, each board member has a duty to act in
the corporate interest of the Company. Under Dutch law, the corporate interest extends to the interests of all corporate stakeholders, such as shareholders, creditors, employees, customers and suppliers. The duty to act in the corporate interest of
the Company also applies in the event of a proposed sale or break-up of the Company, whereby the circumstances generally dictate how such duty is to be applied. Any board resolution regarding a significant change in the identity or character of the
Company or its business requires shareholders approval.

Delaware

The board of directors of a Delaware corporation bears the ultimate responsibility for managing the business and affairs of a corporation. In
discharging this function, directors of a Delaware corporation owe fiduciary duties of care and loyalty to the corporation and to its shareholders. Delaware courts have decided that the directors of a Delaware corporation are required to exercise an
informed business judgment in the performance of their duties. An informed business judgment means that the directors have informed themselves of all material information reasonably available to them. Delaware courts have also imposed a heightened
standard of conduct upon directors of a Delaware corporation who take any action designed to defeat a threatened change in control of the corporation. In addition, under Delaware law, when the board of directors of a Delaware corporation approves
the sale or break-up of a corporation, the board of directors may, in certain circumstances, have a duty to obtain the highest value reasonably available to the shareholders.



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Director terms

The Netherlands

Under Dutch law a director of a listed company is generally appointed for a maximum term of four years. There is no limit to the number of
terms a director may serve.

Delaware

The Delaware General Corporation Law generally provides for a one-year term for directors, but permits directorships to be divided into up to
three staggered classes with up to three-year terms, with the terms for each class expiring in different years, if permitted by the certificate of incorporation, an initial bylaw or a bylaw adopted by the shareholders, with exceptions if the board
is classified or if the company has cumulative voting.

Director vacancies

The Netherlands

Under Dutch law, new members of the board of directors of a company such as ours are appointed by the general meeting. Our Articles provide
that our Board has nomination rights with respect to the appointment of a new member of our Board. If a nomination consists of a list of two or more candidates, it is binding and the appointment to the vacant seat concerned shall be from the persons
placed on the binding list of candidates and shall be effected through election. Notwithstanding the foregoing, our general meeting of shareholders may, at all times, by a resolution passed with a two-thirds majority of the votes cast representing
more than half of our issued and outstanding capital, resolve that such list of candidates shall not be binding.

Delaware

The Delaware General Corporation Law provides that vacancies and newly created directorships may be filled by a majority of
the directors then in office (even though less than a quorum) unless (a) otherwise provided in the certificate of incorporation or by-laws of the corporation or (b) the certificate of incorporation directs that a particular class of stock
is to elect such director, in which case any other directors elected by such class, or a sole remaining director elected by such class, will fill such vacancy.

Shareholder proposals

The Netherlands

Pursuant to our Articles, extraordinary shareholders meetings will be held as often as our Board or our CEO deems such necessary.
Additionally, shareholders and/or persons with depository receipt holder rights representing in the aggregate at least one-tenth of the issued capital of the Company may request the Board to convene a general meeting, specifically stating the
business to be discussed. If our Board has not given proper notice of a general meeting within four weeks following receipt of such request such that the meeting can be held within six weeks after receipt of the request, the applicants shall be
authorized to convene a meeting themselves. Pursuant to Dutch law, one or more shareholders representing at least 10% of the issued share capital may request the Dutch Courts to order that a general meeting be held.

The agenda for a meeting of shareholders must contain such items as our Board or the person or persons convening the meeting decide, including
the time and place of the shareholders meeting and the procedure for participating in the shareholders meeting by way of a written power of attorney. The agenda shall also include such other items as one or more shareholders,
representing at least such part of the issued share capital as required by the laws of the Netherlands (currently, 1% of the issued share capital or shares representing a value of 50 million) may request by providing a substantiated written
request or a proposal for a resolution to our Board at least 60 days before the date of the meeting.

Delaware

Delaware law does not specifically grant shareholders the right to bring business before an annual or special meeting.

Shareholder suits

The Netherlands

In the event a third party is liable to a Dutch company, only the company itself can bring a civil action against that party. The individual
shareholders do not have the right to bring an action on behalf of the company. Only in the event that the cause for the liability of a third party to the company also constitutes a tortious act directly against a shareholder does that shareholder
have



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an individual right of action against such third party in its own name. The Dutch Civil Code provides for the possibility to initiate such actions collectively. A foundation or an association
whose objective is to protect the rights of a group of persons having similar interests can institute a collective action. The collective action itself cannot result in an order for payment of monetary damages but may only result in a declaratory
judgment (verklaring voor recht). In order to obtain compensation for damages, the foundation or association and the defendant may reachoften on the basis of such declaratory judgmenta settlement. A Dutch court may declare the
settlement agreement binding upon all the injured parties with an opt-out choice for an individual injured party. An individual injured party may also itself institute a civil claim for damages.

Delaware

Under the Delaware General Corporation Law, a shareholder may bring a derivative action on behalf of the corporation to enforce the rights of
the corporation. An individual also may commence a class action suit on behalf of himself and other similarly situated shareholders where the requirements for maintaining a class action under Delaware law have been met. A person may institute and
maintain such a suit only if that person was a shareholder at the time of the transaction which is the subject of the suit. In addition, under Delaware case law, the plaintiff normally must be a shareholder not only at the time of the transaction
that is the subject of the suit, but also throughout the duration of the derivative suit. Delaware law also requires that the derivative plaintiff make a demand on the directors of the corporation to assert the corporate claim and such demand has
been refused before the suit may be prosecuted by the derivative plaintiff in court, unless such a demand would be futile.

Anti-takeover provisions

The Netherlands

Neither Dutch law nor our Articles specifically prevent business combinations with interested shareholders. Under Dutch law various protective
measures are as such possible and admissible, within the boundaries set by Dutch case law and Dutch law.

Delaware

In addition to other aspects of Delaware law governing fiduciary duties of directors during a potential takeover, the Delaware
General Corporation Law also contains a business combination statute that protects Delaware companies from hostile takeovers and from actions following the takeover by prohibiting some transactions once an acquirer has gained a significant holding
in the corporation.

Section 203 of the Delaware General Corporation Law prohibits business combinations, including
mergers, sales and leases of assets, issuances of securities and similar transactions by a corporation or a subsidiary with an interested shareholder that beneficially owns 15% or more of a corporations voting stock, within three years after
the person becomes an interested shareholder, unless:



| |  |  | the transaction that will cause the person to become an interested shareholder is approved by the board of directors of the target prior to the transactions;
| | - |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | after the completion of the transaction in which the person becomes an interested shareholder, the interested shareholder holds at least 85% of the voting stock of the corporation not including shares owned by persons
who are directors and also officers of interested shareholders and shares owned by specified employee benefit plans; or
| | - |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | after the person becomes an interested shareholder, the business combination is approved by the board of directors of the corporation and holders of at least 66.67% of the outstanding voting stock, excluding shares held
by the interested shareholder.
| | - |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

A Delaware corporation may elect not to be governed by Section 203 by a provision
contained in the original certificate of incorporation of the corporation or an amendment to the original certificate of incorporation or to the bylaws of the Company, which amendment must be approved by a majority of the shares entitled to vote and
may not be further amended by the board of directors of the corporation. Such an amendment is not effective until twelve months following its adoption.

Removal of directors

The Netherlands

Under Dutch law, the general meeting has the authority to suspend or remove members of the board of directors at any time. Under our Articles,
a member of our Board may be suspended or removed by our general meeting of shareholders at any time by a resolution passed with a two-thirds majority of the votes cast representing more than half of the issued and outstanding capital. If



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permitted under the laws of The Netherlands, a member of our Board may also be suspended by our Board itself. Any suspension may not last longer than three months in the aggregate. If, at the end
of that period, no decision has been taken on termination of the suspension, the suspension shall end. Currently, Dutch law does not allow directors to be suspended by the board of directors; however, Dutch law is expected to be amended to
facilitate the suspension of directors by the board of directors.

Delaware

Under the Delaware General Corporation Law, any director or the entire board of directors may be removed, with or without cause, by the holders
of a majority of the shares then entitled to vote at an election of directors, except (a) unless the certificate of incorporation provides otherwise, in the case of a corporation whose board is classified, shareholders may effect such removal
only for cause, or (b) in the case of a corporation having cumulative voting, if less than the entire board is to be removed, no director may be removed without cause if the votes cast against his removal would be sufficient to elect him if
then cumulatively voted at an election of the entire board of directors, or, if there are classes of directors, at an election of the class of directors of which he is a part.

Taxation

Certain U.S. Federal Income
Tax Considerations

This section describes certain material United States federal income tax consequences of owning our ordinary
shares. It applies to a US Holder (as defined below) that holds our ordinary shares as capital assets for tax purposes. This section does not apply to a US Holder that is a member of a special class of holders subject to special rules, such as:



| |  |  | a financial institution,
| | - |  | ------------------------



| |  |  | a dealer in securities,
| | - |  | -----------------------



| |  |  | a trader in securities that elects to use a mark-to-market method of accounting for its securities holdings,
| | - |  | ------------------------------------------------------------------------------------------------------------



| |  |  | a real estate investment trust;
| | - |  | -------------------------------



| |  |  | a regulated investment company;
| | - |  | -------------------------------



| |  |  | U.S. expatriates;
| | - |  | -----------------



| |  |  | persons who acquired shares pursuant to the exercise of any employee share option or otherwise as compensation;
| | - |  | ---------------------------------------------------------------------------------------------------------------



| |  |  | a tax-exempt organization,
| | - |  | --------------------------



| |  |  | an insurance company,
| | - |  | ---------------------



| |  |  | a person liable for alternative minimum tax,
| | - |  | --------------------------------------------



| |  |  | a person that actually or constructively owns 10% or more of our voting stock,
| | - |  | ------------------------------------------------------------------------------



| |  |  | a person that owns shares through a partnership or other pass-through entity,
| | - |  | -----------------------------------------------------------------------------



| |  |  | a person that holds shares as part of a straddle or a hedging or conversion transaction, or
| | - |  | -------------------------------------------------------------------------------------------



| |  |  | a person whose functional currency is not the US dollar.
| | - |  | --------------------------------------------------------

This section is based on the
Internal Revenue Code of 1986, as amended (the Code), its legislative history, existing and proposed regulations, published rulings and court decisions, all as currently in effect. These laws are subject to change, possibly on a
retroactive basis.

This section does not describe any tax consequences arising out of the tax laws of any state, local or non-U.S.
jurisdiction, any estate or gift tax consequences or the Medicare tax on certain net investment income. If any entity or arrangement that is treated as a partnership for United States federal income tax purposes is a beneficial owner of
our ordinary shares, the treatment of a partner in the partnership will generally depend on the status of the partner and the activities of the partnership. Partners in such partnerships should consult with their tax advisors.

For purposes of this discussion, a US Holder is a beneficial owner of our ordinary shares that is for United States federal income tax
purposes:



| |  |  | a citizen or resident of the United States,
| | - |  | -------------------------------------------



| |  |  | a US domestic corporation (or other entity taxable as a US domestic corporation for United States federal income tax purposes),
| | - |  | -------------------------------------------------------------------------------------------------------------------------------



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| |  |  | an estate the income of which is subject to United States federal income tax regardless of its source, or
| | - |  | ---------------------------------------------------------------------------------------------------------



| |  |  | a trust, if a United States court can exercise primary supervision over the trusts administration and one or more United States persons are authorized to control all substantial decisions of the trust, or if the
trust has a valid election in effect to be treated as a United States person.
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

US Holders should consult their own tax
advisor regarding the United States federal, state and local and other tax consequences of owning and disposing of our ordinary shares in their particular circumstances.

Taxation of Dividends

Under the
United States federal income tax laws, and subject to the passive foreign investment company, or PFIC, rules discussed below, US Holders will include in gross income the gross amount of any dividend paid by us out of our current or accumulated
earnings and profits (as determined for United States federal income tax purposes). The dividend is ordinary income that the US Holder must include in income when the dividend is actually or constructively received. The dividend will not be eligible
for the dividends-received deduction generally allowed to United States corporations in respect of dividends received from other United States corporations. The amount of a dividend distribution paid in euros includible in the income of a US Holder
will be the US dollar value of the euro payment made, determined at the spot euro/US dollar rate on the date the dividend distribution is includible in the income of the US Holder, regardless of whether the payment is in fact converted into US
dollars. Generally, any gain or loss resulting from currency exchange fluctuations during the period from the date the dividend payment is includible in income to the date such payment is converted into US dollars will be treated as ordinary income
or loss. Such gain or loss generally will be income or loss from sources within the United States for foreign tax credit limitation purposes. Distributions in excess of current and accumulated earnings and profits, as determined for United States
federal income tax purposes, will be treated as a non-taxable return of capital to the extent of the US Holders basis in the shares and thereafter as capital gain. We currently do not, and we do not intend to, calculate our earnings and
profits under United States federal income tax principles. Therefore, a US Holder should expect that a distribution will generally be reported as a dividend even if that distribution would otherwise be treated as a non-taxable return of capital or
as capital gain under the rules described above.

With respect to non-corporate taxpayers, dividends may be taxed at the lower applicable
capital gains rate provided that (1) either (a) our ordinary shares are readily tradable on an established securities market in the United States or (b) we are eligible for the benefits of the Convention between the United
States of America and the Kingdom of The Netherlands for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, (2) we are not a PFIC (as discussed below) for either our taxable year in
which the dividend was paid or the preceding taxable year, and (3) certain holding period requirements are met. Common stock is considered for purposes of clause (1) above to be readily tradable on an established securities market if it is
listed on the NYSE. US Holders should consult their tax advisors regarding the availability of the lower rate for dividends paid with respect to our ordinary shares.

For foreign tax credit limitation purposes, the dividend will generally constitute foreign source income and will generally be passive
category income but could, in the case of certain US Holders, constitute general category income. If the dividends are taxed as qualified dividend income (as discussed above), the amount of the dividend taken into account for
purposes of calculating the foreign tax credit limitation will in general be limited to the gross amount of the dividend, multiplied by the reduced tax rate applicable to qualified dividend income and divided by the highest tax rate normally
applicable to dividends.

If Dutch withholding taxes apply to any dividends paid to you with respect to our ordinary shares, the amount of
the dividend would include withheld Dutch taxes and, subject to certain conditions and limitations, such Dutch withholding taxes may be eligible for credit against your U.S. federal income tax liability. The rules relating to the determination of
the foreign tax credit are complex, and you should consult your tax advisors regarding the availability of a foreign tax credit in your particular circumstances, including the effects of any applicable income tax treaties.

Taxation of Capital Gains

Subject to the PFIC rules discussed below, upon the sale or other disposition of our ordinary shares, a US Holder will generally recognize
capital gain or loss for United States federal income tax purposes equal to the difference between the US Holders amount realized and the US Holders tax basis in such shares. If a US Holder receives consideration for shares paid in a
currency other than US dollars, the US Holders amount realized will be the US dollar value of the payment received. In general, the US dollar value of such a payment will be determined on the date of sale or disposition. On the settlement
date, a US Holder may recognize US source foreign currency gain or loss (taxable as ordinary income or loss) equal to the difference (if any) between the US dollar value of the amount received based on the exchange rates in effect on the date of
sale or other disposition



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and the settlement date. However, if our ordinary shares are treated as traded on an established securities market and the US Holder is a cash basis taxpayer or an accrual basis taxpayer who has
made a special election, the US dollar value of the amount realized in a foreign currency is determined by translating the amount received at the spot rate of exchange on the settlement date, and no exchange gain or loss would be recognized at that
time. Capital gain of a non-corporate US Holder is generally taxed at a reduced rate where the property is held more than one year. The gain or loss will generally be income or loss from sources within the United States for foreign tax credit
limitation purposes.

PFIC Rules

We believe that our ordinary shares should not be treated as stock of a PFIC for United States federal income tax purposes for the taxable
year that ended on December 31, 2014. However, the application of the PFIC rules is subject to uncertainty in several respects, and we cannot assure you that the United States Internal Revenue Service will not take a contrary position. In
addition, PFIC status is a factual determination which cannot be made until the close of the taxable year. Accordingly, there is no guarantee that we will not be a PFIC for any future taxable year. Furthermore, because the total value of our assets
for purposes of the asset test generally will be calculated using the market price of our ordinary shares, our PFIC status will depend in large part on the market price of our ordinary shares. Accordingly, fluctuations in the market price of our
ordinary shares could render us a PFIC for any year. A non-U.S. corporation is considered a PFIC for any taxable year if either:



| |  |  | at least 75% of its gross income is passive income, or
| | - |  | ------------------------------------------------------



| |  |  | at least 50% of the value of its assets (based on an average of the quarterly values of the assets during a taxable year) is attributable to assets that produce or are held for the production of passive income (the
asset test).
| | - |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

In the PFIC determination, we will be treated as owning our proportionate share of the assets and
earning our proportionate share of the income of any other corporation in which we own, directly or indirectly, 25% or more (by value) of the stock.

If we were to be treated as a PFIC for any year during a US Holders holding period, unless the US Holder elects to be taxed annually on
a mark-to-market basis with respect to the shares (which election may be made only if our ordinary shares are marketable stock within the meaning of Section 1296 of the Code), the US Holder will be subject to special tax rules with
respect to any excess distribution received and any gain realized from a sale or other disposition (including a pledge) of that holders shares. Distributions a US Holder receives in a taxable year that are greater than 125% of the
average annual distributions received during the shorter of the three preceding taxable years or the holders holding period for the shares will be treated as excess distributions. Under these special tax rules:



| |  |  | the excess distribution or gain will be allocated ratably over the US Holders holding period for the shares;
| | - |  | -------------------------------------------------------------------------------------------------------------



| |  |  | the amount allocated to the current taxable year, and any taxable year prior to the first taxable year in which we are treated as a PFIC, will be treated as ordinary income; and
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the amount allocated to each other year will be subject to tax at the highest tax rate in effect for that year and the interest charge generally applicable to underpayments of tax will be imposed on the resulting tax
attributable to each such year.
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The tax liability for amounts allocated to years prior to the year of disposition or
excess distribution cannot be offset by any net operating losses for such years, and gains (but not losses) realized on the sale of the shares cannot be treated as capital, even if the shares are held as capital assets. If we were to be
treated as a PFIC for any year during which a US Holder holds the shares, we generally would continue to be treated as a PFIC with respect to that US Holder for all succeeding years during which it owns our ordinary shares. If we were to cease to be
treated as a PFIC, however, a US Holder may avoid some of the adverse effects of the PFIC regime by making a deemed sale election with respect to our ordinary shares.

If a US Holder holds shares in any year in which we are a PFIC, that US Holder will generally be required by the Code to file an information
report with the Internal Revenue Service containing such information as the Internal Revenue Service may require.

Information
Reporting and Backup Withholding

Dividend payments with respect to our shares and proceeds from the sale, exchange or redemption
of our ordinary shares may be subject to information reporting to the United States Internal Revenue Service and possible United States backup withholding. Backup withholding will not apply, however, to a US Holder that furnishes a correct taxpayer
identification number and makes any other required certification or that is otherwise exempt from backup withholding. US Holders that are required to establish their exempt status generally must provide such certification on United States Internal
Revenue Service Form W-9. US Holders should consult their tax advisors regarding the application of the U.S. information reporting and backup withholding rules.



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Backup withholding is not an additional tax. Amounts withheld as backup withholding may be
credited against your United States federal income tax liability, and you may obtain a refund of any excess amounts withheld under the backup withholding rules by filing the appropriate claim for refund with the United States Internal Revenue
Service and furnishing any required information in a timely manner.

Information with respect to Foreign Financial Assets

U.S. individuals that own specified foreign financial assets with an aggregate value in excess of certain threshold
amounts are generally required to file an information report with respect to such assets with their tax returns. Specified foreign financial assets include any financial accounts maintained by foreign financial institutions, as well as
any of the following, but only if they are not held in accounts maintained by certain financial institutions: (i) stocks and securities issued by non-U.S. persons, (ii) financial instruments and contracts held for investment that have
non-U.S. issuers or counterparties, and (iii) interests in foreign entities. Our shares may be subject to these rules. US Holders that are individuals should consult their tax advisers regarding the application of this requirement to their
ownership of our shares.

Certain Dutch Tax Considerations

Introduction

This
section describes the material Dutch tax consequences of the ownership and disposition of our ordinary shares as of the date hereof and is intended as general information only. The following summary does not purport to be a comprehensive description
of all Dutch tax considerations that could be relevant for holders of the ordinary shares. This summary is intended as general information only. Each prospective holder should consult a professional tax adviser with respect to the tax consequences
of an investment in the ordinary shares. This summary is based on Dutch tax legislation and published case law in force as of the date of this annual report. It does not take into account any developments or amendments thereof after that date,
whether or not such developments or amendments have retroactive effect.

For the purpose of this section, The Netherlands
shall mean the part of the Kingdom of The Netherlands in Europe.

Scope

Regardless of whether or not a holder of ordinary shares is, or is treated as being, a resident of The Netherlands, this summary does not
address the Dutch tax consequences for such a holder:



| | (a) | having a substantial interest (aanmerkelijk belang) in our Company (such a substantial interest is generally present if an equity stake, profit stake of at least 5%, or a right to acquire such an equity/profit
stake, is held, in each case by reference to our Companys total issued share capital, or the issued capital of a certain class of shares);
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | who is a private individual and may be taxed for the purposes of Dutch income tax (inkomstenbelasting) as an entrepreneur (ondernemer) having an enterprise (onderneming) to which the ordinary shares
are attributable, as one who earns income from miscellaneous activities (resultaat uit overige werkzaamheden), which include the performance of activities with respect to the ordinary shares that exceed regular, active portfolio management
(normaal, actief vermogensbeheer), or who may otherwise be taxed as one earning taxable income from work and home (werk en woning) with respect to benefits derived from the ordinary shares;
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | which is a corporate entity, and for the purposes of Dutch corporate income tax (vennootschapsbelasting) and Dutch dividend tax (dividendbelasting), has, or is deemed to have, a participation
(deelneming) in our Company (such a participation is generally present in the case of an interest of at least 5% of our Companys nominal paid-in capital); or
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (d) | which is a corporate entity and an exempt investment institution (vrijgestelde beleggingsinstelling) or investment institution (beleggingsinstelling) for the purposes of Dutch corporate income tax, a
pension fund, or otherwise not a taxpayer or exempt for tax purposes.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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Dividend tax

Withholding requirement

We are required to withhold 15% Dutch dividend tax in respect of proceeds from the ordinary shares, which include, but is not limited to:



| | (a) | proceeds in cash or in kind, including deemed and constructive proceeds;
| | --- | ------------------------------------------------------------------------



| | (b) | liquidation proceeds, proceeds on redemption of the ordinary shares and, as a rule, the consideration for the repurchase of ordinary shares by our Company in excess of its average paid-in capital (gestort
kapitaal) as recognized for Dutch dividend tax purposes, unless a particular statutory exemption applies;
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | the par value of the ordinary shares issued to a holder, or an increase in the par value of the ordinary shares, except when the (increase in the) par value of the ordinary shares is funded out of our paid-in capital as
recognized for Dutch dividend tax purposes; and
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (d) | partial repayments of paid-in capital, if and to the extent there are qualifying profits (zuivere winst), unless the general meeting of holders of shares has resolved in advance to make such repayment and
provided that the nominal value of the ordinary shares concerned has been reduced by an equal amount by way of an amendment of the articles of association and the capital concerned is recognized as paid-in capital for Dutch dividend tax purposes.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Resident holders

If a holder of ordinary shares is, or is treated as being, a resident of The Netherlands, Dutch dividend tax which is withheld with respect to
proceeds from the ordinary shares will generally be creditable for Dutch corporate income tax or Dutch income tax purposes if the holder is the beneficial owner (uiteindelijk gerechtigde) of the proceeds concerned. A resident corporate holder
of ordinary shares may under certain conditions be entitled to an exemption from Dutch dividend withholding tax.

Non-resident holders

If a private individual holder of ordinary shares is, or is treated as being, a resident of a country other than The Netherlands, such
holder is generally not entitled to claim full or partial relief at source, or a refund in whole or in part, of Dutch dividend tax with respect to proceeds from the ordinary shares. A non-resident corporate holder of ordinary shares may under
certain conditions be entitled to an exemption from, reduction or refund of Dutch dividend withholding tax under the provisions of a treaty for the avoidance of double taxation between The Netherlands and its country of residence.

Income tax

Resident holders

A holder
who is a private individual and a resident, or treated as being, a resident of The Netherlands for the purposes of Dutch income tax and who does not have a substantial interest in our Company nor otherwise is taxed in relation to the ordinary shares
as one earning taxable income from work and home, must record the ordinary shares as assets that are held in box 3. Taxable income with regard to the ordinary shares is then determined on the basis of a deemed return on income from savings and
investments (sparen en beleggen), rather than on the basis of income actually received or gains actually realized. This deemed return is fixed at a rate of 4% of the holders yield basis (rendementsgrondslag) on January 1 of
each year, insofar as the yield basis concerned exceeds a certain threshold. Such yield basis is determined as the fair market value of certain qualifying assets held by the holder of the ordinary shares, less the fair market value of certain
qualifying liabilities. The fair market value of the ordinary shares will be included as an asset in the holders yield basis. The deemed return of 4% on the holders yield basis, being the fair market value of the ordinary shares, is
taxed at a rate of 30% (insofar as the yield basis concerned exceeds a certain threshold).

Non-resident holders

A holder who is a private individual and neither a resident, nor treated as being a resident of The Netherlands for the purposes of Dutch
income tax, will not be subject to such tax in respect of benefits derived from the ordinary shares.



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Corporate income tax

Resident holders or holders having a Dutch permanent establishment

A holder which is a corporate entity and for the purposes of Dutch corporate income tax a resident (or treated as being a resident) of The
Netherlands, or a non-resident having (or treated as having) a permanent establishment in The Netherlands, is generally taxed in respect of benefits derived from the ordinary shares at rates of up to 25%.

Non-resident holders

A
holder which is a corporate entity and for the purposes of Dutch corporate income tax neither a resident, nor treated as being a resident, of The Netherlands, having no permanent establishment in The Netherlands (and is not treated as having such a
permanent establishment), will generally not be subject to such tax in respect of benefits derived from the ordinary shares.

Gift
and inheritance tax

Resident holders

Dutch gift tax or inheritance tax (schenk- of erfbelasting) will arise in respect of an acquisition (or deemed acquisition) of the
ordinary shares by way of a gift by, or on the death of, a holder of ordinary shares who is a resident, or treated as being a resident, of The Netherlands for the purposes of Dutch gift and inheritance tax. A holder is so treated as being a resident
of The Netherlands, if one having Dutch nationality has been a resident of The Netherlands during the ten years preceding the relevant gift or death. A holder is further so treated as being a resident of The Netherlands, if one has been a resident
of The Netherlands at any time during the twelve months preceding the time of the relevant gift.

Non-resident holders

No Dutch gift tax or inheritance tax will arise in respect of an acquisition (or deemed acquisition) of the ordinary shares by way of a gift
by, or on the death of, a holder of ordinary shares who is neither a resident, nor treated as being a resident, of The Netherlands for the purposes of Dutch gift and inheritance tax.

Other taxes

No
Dutch turnover tax (omzetbelasting) will arise in respect of any payment in consideration for the issue of the ordinary shares, with respect to a distribution of proceeds from the ordinary shares or with respect to a transfer of ordinary
shares. Furthermore, no Dutch registration tax, capital tax, transfer tax or stamp duty (nor any other similar tax or duty) will be payable in connection with the issue or acquisition of the ordinary shares.



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ITEM 11: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK

Interest Rate Risk

Under
our Revolving Facility, interest is based on a floating rate index. The interest expense on the remainder of our outstanding indebtedness is based on a fixed rate, except for our mortgages. Our mortgages are subject to a floating interest rate of
EURIBOR plus an individual margin ranging from 240 to 280 basis points. We have determined that the impact of a near-term 10% appreciation or depreciation of EURIBOR would not have a significant effect on our financial position, results of
operations, or cash flows. The interest rates on our mortgages secured by our PAR3 and PAR5 properties was fixed for approximately 75% of the principal outstanding amounts for a period of 10 years.

As of December 31, 2014, the interest payable under the Revolving Facility on (i) any EUR amounts drawn would be at the rate of
EURIBOR plus 350 basis points per annum, (ii) any Danish Kroner amounts drawn would be at the rate of CIBOR plus 350 basis points per annum, (iii) any Swedish Kroner amounts drawn would be at the rate of STIBOR plus 350 basis points per
annum and (iv) other applicable currencies including GBP amounts drawn at the rate of LIBOR plus 350 basis points per annum. The Revolving Facility was undrawn as of December 31, 2014.

Foreign Exchange Rate Risk

Our reporting
currency for purposes of our financial statements is the euro. However, we also incur revenue and operating costs in non-euro denominated currencies, such as British pounds, Swiss francs, Danish Kroner and Swedish Kroner. We recognize foreign
currency gains or losses arising from our operations in the period incurred. As a result, currency fluctuations between the euro and the non-euro currencies in which we do business will cause us to incur foreign currency translation gains and
losses. We cannot predict the effects of exchange rate fluctuations upon our future operating results because of the number of currencies involved, the variability of currency exposure and the potential volatility of currency exchange rates. We have
determined that the impact of a near-term 10% appreciation or depreciation of non-euro denominated currencies relative to the euro would not have a significant effect on our financial position, results of operations, or cash flows.

We do not maintain any derivative instruments to mitigate the exposure to translation and transaction risk. Our foreign exchange transaction
gains and losses are included in our results of operations and were not material for all periods presented. We do not currently engage in foreign exchange hedging transactions to manage the risk of our foreign currency exposure.

Commodity Price Risk

We are a
significant user of electricity and have exposure to increases in electricity prices. In recent years, we have seen significant increases in electricity prices. We use independent consultants to monitor price changes in electricity and negotiate
fixed-price term agreements with the power supply companies where possible.

Approximately 60% of our customers by revenue pay for
electricity on a metered basis while the remainder of our customers pay for power plugs. While we are contractually able to recover energy cost increases from our customers, some portion of the increased costs may not be recovered. In
addition, some portion of the increased costs may be recovered in a delayed fashion based on commercial reasons at the discretion of local management.



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ITEM 12: DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

Not applicable.



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PART II

ITEM 13: DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES

Not applicable.



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ITEM 14: MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY
HOLDERS

AND USE OF PROCEEDS

Not applicable.



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ITEM 15: CONTROLS AND PROCEDURES

Conclusion Regarding the Effectiveness of Disclosure Controls and Procedures

Under the supervision and with the participation of the Chief Executive Officer (CEO) and Chief Financial Officer (CFO), the effectiveness of
the Companys disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934) have been evaluated as of December 31, 2014. Based upon the evaluation, the CEO and CFO, concluded
that as of December 31, 2014, the Companys disclosure controls and procedures were effective and designed to provide reasonable assurance that the information required to be disclosed by us in the reports that we file or submit under the
Securities Exchange Act of 1934, is recorded, processed, summarized and reported within the time periods specified in the SECs rules and forms and to ensure that information required to be disclosed in the reports that we file or submit under
the Securities Exchange Act of 1934 is accumulated and communicated to our management, including the CEO and CFO, as appropriate, to allow timely decisions regarding required disclosure.

Managements Report on Internal Control over Financial Reporting

Management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rules 13a-15(f)
and 15d-15(f) under the Securities Exchange Act of 1934) and for the assessment of the effectiveness of internal control over financial reporting. Internal control over financial reporting includes maintaining records, that, in reasonable detail,
accurately and fairly reflect our transactions; providing reasonable assurance that transactions are recorded as necessary for preparation of our financial statements; providing reasonable assurance that receipts and expenditures of Company assets
are made in accordance with management authorization; and providing reasonable assurance that unauthorized acquisition, use or disposition of Company assets that could have material effect on our financial statements would be prevented or detected
on a timely basis. The Companys internal control over financial reporting is a process designed to provide reasonable, but not absolute, assurance regarding the reliability of financial reporting and the preparation of the consolidated
financial statements in accordance with generally accepted accounting principles. Because of its inherent limitations, internal control over financial reporting is not intended to provide absolute assurance that a misstatement of our financial
statements would be prevented or detected.

In connection with the preparation of the Companys annual consolidated financial
statements, management has undertaken an assessment of the effectiveness of the Companys internal control over financial reporting as of December 31, 2014, based on criteria established in the Internal Control Integrated Framework
(2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (the COSO Framework).

Based on this
assessment, management concluded that the Companys internal control over financial reporting was effective as of December 31, 2014.

Our consolidated financial statements have been audited by KPMG Accountants N.V., an independent registered public accounting firm, which has
issued an attestation report on the Companys internal control over financial reporting included elsewhere in this annual report on Form 20-F.

Changes in Controls and Procedures

Enhancements have been made during the period. There were no changes that occurred during the period covered by this report that have
materially affected, or are reasonably likely to materially affect, the Companys internal control over financial reporting.



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ITEM 16A: AUDIT COMMITTEE FINANCIAL EXPERT

The Board of Directors has determined that Rob Ruijter is the audit committee financial expert as defined by the SEC and meets the applicable
independence requirements of the SEC and the NYSE.



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ITEM 16B: CODE OF ETHICS

Our board of directors has adopted a code of ethics on January 21, 2013, which applies to our principal executive officer, principal
financial officer, principal accounting officers, controllers and employees. The code is posted on our website at www.interxion.com.



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ITEM 16C: PRINCIPAL ACCOUNTANT FEES AND SERVICES

KPMG Accountants N.V. has served as the Companys principal accountant for the fiscal years ended December 31, 2014, 2013 and 2012.
Set forth below are the fees for audit and other services rendered by KPMG Accountants N.V. or other KPMG network for the fiscal years ended December 31, 2014, 2013 and 2012.



|                   |  |                         |       |  |      |  |       |      |  |  |       | 
|------------------ |  | ----------------------- | ----- |  | ---- |  | ----- | ---- |  |  | ----- | 
|                   |  | Year ended December 31, |      
|                   |  | 2014                    |       |  | 2013 |  |       | 2012 | 
|                   |  | (000)                 |      
|Audit fees         |  |                         | 894   |  |      |  | 1,018 |      |  |  | 758   | 
|Audit-related fees |  |                         | 255   |  |      |  | 346   |      |  |  | 277   | 
|Tax fees           |  |                         | 3     |  |      |  |      |      |  |  |      | 
|All other fees     |  |                         | 58    |  |      |  | 64    |      |  |  |      | 
|                   |  |                         |       |  |      |  |       |      |  |  |       | 
|Total              |  |                         | 1,210 |  |      |  | 1,428 |      |  |  | 1,035 | 
|                   |  |                         |       |  |      |  |       |      |  |  |       | 

Audit fees include fees billed for audit services rendered for the Companys annual consolidated
financial statements filed with regulatory organizations.

Audit-related fees primarily relate to quarterly financial review services and
service organization control reports such as SOC 2 and ISAE 3402 reports.

Tax fees include fees billed for tax compliance.

All other fees consist of fees for all other services not included in any of the other categories noted above.

All of the above fees were pre-approved by the Audit Committee.

Audit Committees Policies and Procedures

In accordance with the Securities and Exchange Commission rules regarding auditor independence, the Audit Committee has established Policies
and Procedures for Audit and Non-Audit Services Provided by an Independent Auditor. The rules apply to the Company and its consolidated subsidiaries engaging any accounting firms for audit services and the auditor who audits the accounts filed with
the Securities and Exchange Commission, or the external auditor, for permissible non-audit services.

When engaging the external auditor
for permissible non-audit services (audit-related services, tax services, and all other services), pre-approval is obtained prior to the commencement of the services.



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ITEM 16D: EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT
COMMITTEES

Not applicable.



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ITEM 16E: PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND
AFFILIATED PURCHASERS

None.



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ITEM 16F: CHANGE IN REGISTRANTS CERTIFYING ACCOUNTANT

Not applicable.



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ITEM 16G: CORPORATE GOVERNANCE

Many of the corporate governance rules of the NYSE do not apply to the Company as a foreign private issuer; however, Rule 303A.11
requires foreign private issuers to describe significant differences between their corporate governance standards and the corporate governance standards applicable to U.S. companies listed on the NYSE. While the Companys management believes
that its corporate governance practices are similar in many respects to those of U.S. NYSE-listed companies and provide investors with protections that are comparable in many respects to those established by the NYSE, there are certain key
differences which are described below.

Nominating Committee

Under Section 303A.04 of the NYSE rules, a domestic listed company must have a nominating/corporate governance committee composed entirely
of independent directors. The Companys Nominating Committee does not meet the NYSE independence standard, as one (1) member of that committee is not independent as defined under the applicable NYSE rules.

Compensation Committee

Under Section 303A.05 of the NYSE rules, a domestic listed company must have a compensation committee composed entirely of independent
directors. The Companys Compensation Committee does not meet the NYSE independence standard, as one (1) member of that committee is not independent as defined under the applicable NYSE rules.

Internal Audit Function

Under Section 303A.07 of the NYSE rules, a domestic listed company must have an internal audit function. In 2014, a formal internal audit
function was not in place.



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ITEM 16H: MINE SAFETY DISCLOSURE

Not applicable.



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PART III

ITEM 17: FINANCIAL STATEMENTS

The Company has responded to Item 18 in lieu of responding to this item.



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ITEM 18: FINANCIAL STATEMENTS

Reference is made to pages F-1 through F-64, which are incorporated herein by reference.



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ITEM 19: EXHIBITS

The following instruments and documents are included as Exhibits to this annual report.



|              |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|------------- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|ExhibitNumber |  | Description of Document                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|              | 
|1.1          |  | Articles of Association of InterXion Holding N.V., as amended, dated as of January 20, 2012.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|              | 
|1.2          |  | Bylaws of InterXion Holding N.V. dated as of January 23, 2012.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|              | 
|2.1*          |  | Form of Registration Rights Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|              | 
|2.2          |  | Indenture dated as of July 3, 2013 among InterXion Holding N.V., as Issuer, InterXion Belgium N.V., InterXion Danmark ApS, InterXion Carrier Hotel Limited, InterXion Datacenters B.V., InterXion Deutschland GmbH, Interxion
España S.A., InterXion France SAS, InterXion HeadQuarters B.V., InterXion Ireland Limited, InterXion Nederland B.V. and InterXion Operational B.V., as initial guarantors, The Bank of New York Mellon, London Branch, as trustee, principal
paying agent and transfer agent, The Bank of New York Mellon (Luxembourg) S.A., as registrar and Luxembourg paying agent and Barclays Bank PLC, as security trustee.
|              | 
|2.3 ̈          |  | Supplemental Indenture dated as of December 17, 2013 among InterXion Holding N.V., as Issuer, InterXion Sverige AB, as Guaranteeing Entity, InterXion Belgium N.V., InterXion Danmark ApS, InterXion Carrier Hotel Limited, InterXion
Datacenters B.V., InterXion Deutschland GmbH, InterXion España S.A., InterXion France SAS, InterXion HeadQuarters B.V., InterXion Ireland Limited, InterXion Nederland B.V. and InterXion Operational B.V., as guarantors and The Bank of New York
Mellon, London Branch, as trustee.                                                                                                                    
|              | 
|2.4           |  | Supplemental Indenture dated as of December 22, 2014 among InterXion Holding N.V., as Issuer, InterXion Österreich GmbH, as Guaranteeing Entity, and The Bank of New York Mellon, London Branch, as trustee.                                                                                                                                                                                                                                                                                                                                                                                                                                   
|              | 
|2.5          |  | The Intercreditor Agreement dated July 3, 2013, by and among, Interxion Holding N.V., Barclays Bank PLC, as revolving agent, The Bank of New York Mellon, London Branch, as original senior secured notes trustee, the revolving lenders
named therein, the original debtors named therein, and Barclays Bank PLC as security trustee.                                                                                                                                                                                                                                                                                                         
|              | 
|2.6 ̈          |  | Amendment Letter to the Intercreditor Agreement dated December 17, 2013, by and among, Interxion Holding N.V., the original debtors and financial institutions as listed in the Intercreditor Agreement, The Bank of New York Mellon,
London Branch, as original senior secured notes trustee and Barclays Bank PLC, as original hedge counterparty, revolving agent and security trustee.                                                                                                                                                                                                                                                     
|              | 
|4.1 ̈          |  | Senior Multicurrency Revolving Facility Agreement dated as of June 17, 2013 among Interxion Holding N.V., ABN AMRO Bank N.V., Barclays Bank PLC, Citigroup Global Markets Limited, Credit Suisse AG, London Branch and Bank of America
Securities Limited.                                                                                                                                                                                                                                                                                                                                                                                     
|              | 
|4.2          |  | Amendment Letter to the Senior Multicurrency Revolving Facility Agreement dated April 9, 2014, by and among, Interxion Holding N.V., and Barclays Bank PLC, as agent.                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|              | 
|4.3           |  | Amendment Letter to the Senior Multicurrency Revolving Facility Agreement dated July 17, 2014, by and among, Interxion Holding N.V., and Barclays Bank PLC, as agent.                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|              | 
|4.4 ̈          |  | Accession Letter to the Senior Multicurrency Revolving Facility Agreement dated December 17, 2013 among InterXion Holding N.V. and InterXion Sverige AB, as additional guarantor.                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|              | 
|4.5           |  | Accession Letter to the Senior Multicurrency Revolving Facility Agreement dated December 22, 2014 among InterXion Holding N.V. and InterXion Österreich GmbH, as additional guarantor.                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|              | 
|4.6*          |  | Shareholders Agreement among InterXion Holding N.V., Chianna Investment N.V., Lamont Finance N.V. and Baker Communications Fund II, L.P.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|              | 
|4.7          |  | The Implementation Agreement and Plan of Organization between TelecityGroup plc and Interxion Holding N.V. dated March 9, 2015.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|              | 
|4.8          |  | Irrevocable Undertaking Agreement by Mr. D. Ruberg, dated March 9, 2015.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       



103



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|              |  |                                                                                                                                                                                                                                                    
|------------- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|ExhibitNumber |  | Description of Document                                                                                                                                                                                                                            
|              | 
|4.9          |  | Irrevocable Undertaking Agreement by Lamont Finance N.V. and Baker Communications Fund II, L.P., dated March 9, 2015.                                                                                                                              
|              | 
|4.10         |  | Form of Irrevocable Undertaking Agreement for other directors of Interxion Holding N.V.                                                                                                                                                            
|              | 
|4.11          |  | Cost cover letter from Interxion Holding N.V. to Lamont Finance, N.V., Baker Communications Fund II (Cayman), L.P. and Baker Communications Fund II, L.P., dated March 9, 2015.                                                                    
|              | 
|4.12         |  | Directors Remuneration Policy of InterXion Holding N.V. dated January 20, 2012.                                                                                                                                                                    
|              | 
|4.13 ̈         |  | Management Agreement Managing Director InterXion Holding N.V. dated July 15, 2013.                                                                                                                                                                 
|              | 
|4.14§         |  | InterXion Holding N.V. 2008 International Stock Option and Incentive Master Award Plan dated January 2008.                                                                                                                                         
|              | 
|4.15§         |  | InterXion Holding N.V. 2011 International Stock Option and Incentive Master Award Plan dated May 31, 2011.                                                                                                                                         
|              | 
|4.16         |  | InterXion Holding N.V. 2013 Amended International Equity Based Incentive Plan dated October 30, 2014.                                                                                                                                              
|              | 
|4.17         |  | InterXion Holding N.V. 2013 Amended International Equity Based Incentive Plan dated March 17, 2014.                                                                                                                                                
|              | 
|4.18 ̈         |  | Deed of Pledge of Shares among InterXion Holding N.V., InterXion Operational B.V. and Barclays Bank PLC dated July 2, 2013.                                                                                                                        
|              | 
|4.219        |  | Senior secured facility agreement dated April 14, 2014 by and among the Company, the guarantors thereunder, ABN AMRO Bank N.V. and Barclays Bank PLC, as lenders thereunder, Barclays Bank PLC, as agent and Barclays Bank PLC as
security trustee.
|              | 
|4.20*        |  | Lease Agreement between InterXion Österreich GmbH and S-Invest Beteiligungsgesellschaft mbH dated January 1, 2000 as amended by the Supplement to the Floridsdorf Technology Park Lease dated November 13, 2007.                                   
|              | 
|4.21*        |  | Lease Agreement among InterXion Holding N.V., InterXion Belgium N.V. and First Cross Roads dated June 25, 2001.                                                                                                                                    
|              | 
|4.22*        |  | Lease Agreement between InterXion HeadQuarters B.V. and Keops A/S dated May 1, 2000.                                                                                                                                                               
|              | 
|4.23*        |  | Lease Agreement between InterXion France Sarl and SCI 43 Rue du Landy dated June 29, 2007 as amended by the Amendment to the Lease Agreement dated October 26, 2007.                                                                               
|              | 
|4.24*        |  | Lease Agreement between InterXion France Sarl and SCI 43 Rue du Landy dated April 28, 2006.                                                                                                                                                        
|              | 
|4.25*        |  | Lease Agreement between InterXion Holding B.V. and GiP Gewerbe im Park GmbH dated January 29, 1999 as amended by Supplement No. 15 to the Lease Agreement dated November 30, 2009.                                                                 
|              | 
|4.26*        |  | Lease Agreement between InterXion France Sarl and ICADE dated December 23, 2008.                                                                                                                                                                   
|              | 
|4.27*        |  | Lease Agreement between InterXion Nederland B.V. and VastNed Industrial B.V. dated November 4, 2005.                                                                                                                                               
|              | 
|4.28*        |  | Lease Agreement between InterXion Nederland B.V. and VA No. 1 (Point of Logistics) B.V. dated May 14, 2007.                                                                                                                                        
|              | 
|4.29*        |  | Lease Agreement between InterXion Carrier Hotel S.L. and Naves y Urbanas Andalucia S.A. dated March 20, 2000 as amended by the Annex to the Lease Agreement dated March 15, 2006.                                                                  
|              | 
|4.30*        |  | Lease Agreement among InterXion Holding N.V., InterXion Carrier Hotel Limited and Eliahou Zeloof, Amira Zeloof, Ofer Zeloof and Oren Zeloof dated February 23, 2000.                                                                               
|              | 
|4.31*        |  | Lease/Loan Agreement between Alpine Finanz Immobilien AG, InterXion (Schweiz) AG and InterXion Holding N.V. dated March 13, 2009.                                                                                                                  
|              | 
|4.32 ̈        |  | Lease Agreement among InterXion Holding N.V., InterXion Carrier Hotel Limited and Amira Zeloof, Ofer Zeloof and Oren Zeloof dated November 1, 2011.                                                                                                
|              | 
|4.33 ̈        |  | Lease Agreement among InterXion Holding N.V., InterXion France Sas and Corpet Louvet Sas dated January 3, 2011.                                                                                                                                    
|              | 
|4.34 ̈        |  | Lease Agreement among InterXion Holding N.V., InterXion España, S.A.U and Chainco Investments Company, S.L. dated October 10, 2011.                                                                                                                



104



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|              |  |                                                                                                                                                                                   
|------------- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|ExhibitNumber |  | Description of Document                                                                                                                                                           
|              | 
|4.35 ̈        |  | Lease Agreement among InterXion España, S.A.U. and Edificios Alsina Sur, S.A. dated February 27, 2012.                                                                            
|              | 
|4.36 ̈        |  | Lease Agreement between InterXion Holding B.V. and GiP Gewerbe im Park GmbH dated January 29, 1999 as amended by Supplement No. 17 to the Lease Agreement dated September 1, 2011.
|              | 
|4.37        |  | Lease Agreement between InterXion Netherlands B.V. and ProLogis Netherlands VII SarL dated April 15, 2013.                                                                        
|              | 
|4.38        |  | Lease Agreement among InterXion España, S.A.U. and Edificios Alsina Sur, S.A. dated June 5, 2013.                                                                                 
|              | 
|4.39        |  | Lease Agreement between InterXion Deutschland GmbH and Union Investment Real Estate GmbH date August 2, 2013.                                                                     
|              | 
|12.1          |  | Certification of Chief Executive Officer.                                                                                                                                         
|              | 
|12.2          |  | Certification of Chief Financial Officer.                                                                                                                                         
|              | 
|13.1          |  | Certification of Chief Executive Officer.                                                                                                                                         
|              | 
|13.2          |  | Certification of Chief Financial Officer.                                                                                                                                         
|              | 
|15.1          |  | Consent of KPMG Accountants N.V.                                                                                                                                                  



Notes:



|* | Previously filed as an exhibit to the InterXion Holding N.V.s Registration Statement on Form F-1 (File No. 333-171662) filed with the SEC and hereby incorporated by reference to such Registration Statement.
|- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Confidential treatment has been received for certain portions which are omitted in the copy of the exhibit filed with the SEC. The omitted information has been filed separately with the SEC pursuant to an application
for confidential treatment.
|- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | The omitted information has been filed separately with the SEC pursuant to an application for confidential treatment.
|-- | ---------------------------------------------------------------------------------------------------------------------

| | Previously filed as an exhibit on Form 6-K (File No. 001-35053) filed with the SEC and hereby incorporated by reference.
|- | ------------------------------------------------------------------------------------------------------------------------

|§ | Previously filed as an exhibit to the InterXion Holding N.V.s Registration Statement on Form S-8 (File No. 119-28329) filed with the SEC and hereby incorporated by reference to such Registration Statement.
|- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| ̈ | Previously filed as an exhibit on Form 20-F (File No. 001-35053) filed with the SEC and hereby incorporated by reference.
|- | -------------------------------------------------------------------------------------------------------------------------



105



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SIGNATURES

The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the
undersigned to sign this annual report on its behalf.



|                       |  |                        
|---------------------- |  | -----------------------
|INTERXION HOLDING N.V.
|                      
|/s/ David C. Ruberg   
|                       | 
|Name:                  |  | David C. Ruberg        
|                       | 
|Title:                 |  | Chief Executive Officer
|                       | 
|Date:                  |  | April 28, 2015         



106



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INDEX TO FINANCIAL STATEMENTS

Audited financial statements of InterXion Holding N.V. as of and for the years ended December 31, 2014, 2013 and 2012



|                                                           |  |  |     | 
|---------------------------------------------------------- |  |  | --- | 
|Independent Auditors Report                               |  |  | F-2 | 
|Consolidated Income Statements                             |  |  | F-4 | 
|Consolidated Statements of Comprehensive Income            |  |  | F-4 | 
|Consolidated Statements of Financial Position              |  |  | F-5 | 
|Consolidated Statements of Changes in Shareholders Equity |  |  | F-6 | 
|Consolidated Statements of Cash Flows                      |  |  | F-8 | 
|Notes to the 2014 Consolidated Financial Statements        |  |  | F-9 | 



F-1



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##### Table of Contents

Report of Independent Registered Public Accounting Firm

To: The Board of Directors and Shareholders of InterXion Holding N.V.

We have audited the accompanying consolidated statements of financial position of Interxion Holding N.V. and subsidiaries as of
December 31, 2014, 2013 and 2012, and the related consolidated income statements and, consolidated statements of comprehensive income, changes in shareholders equity, and cash flows for the years then ended. We also have audited Interxion
Holding N.V. and subsidiaries internal control over financial reporting as of December 31, 2014, based on criteria established in Internal Control  Integrated Framework (2013) issued by the Committee of Sponsoring Organizations
of the Treadway Commission (COSO). Interxion Holding N.V.s management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness
of internal control over financial reporting, included in the accompanying Managements Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on these consolidated financial statements and an opinion
on the Companys internal control over financial reporting based on our audits.

We conducted our audits in accordance with the
standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement and
whether effective internal control over financial reporting was maintained in all material respects. Our audits of the consolidated financial statements included examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our audit of internal control over financial reporting included obtaining an
understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also
included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.

A companys internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A companys internal control over financial reporting includes those policies and procedures that
(1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors
of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the companys assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of
any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of
Interxion Holding N.V. and subsidiaries as of December 31, 2014, 2013 and 2012, and the results of their operations and their cash flows for each of the years then ended, in conformity with International Financial Reporting Standards as issued
by the International Accounting Standards Board. Also in our opinion, Interxion Holding N.V. maintained, in all material respects, effective internal control over financial reporting as of December 31, 2014, based on criteria established in
Internal Control Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission(COSO).

/s/ KPMG
Accountants N.V.

Rotterdam, The Netherlands

April 28, 2015



F-2



---

##### Table of Contents

FINANCIAL STATEMENTS



F-3



---

##### Table of Contents

CONSOLIDATED INCOME STATEMENT



|                                                 |  |      |        |  |                                |  |          |      |  |  |          |   |  |  |          |  
|------------------------------------------------ |  | ---- | ------ |  | ------------------------------ |  | -------- | ---- |  |  | -------- | - |  |  | -------- | -
|                                                 |  |      |        |  | For the year ended December 31 | 
|                                                 |  | Note |        |  | 2014                           |  |          | 2013 |  |  | 2012     |  
|                                                 |  |      |        |  | (000)                        | 
|Revenue                                          |  |      | 5,6    |  |                                |  | 340,624  |      |  |  | 307,111  |   |  |  | 277,121  |  
|Cost of sales                                    |  |      | 5,7    |  |                                |  | (139,075 | )    |  |  | (124,141 | ) |  |  | (113,082 | )
|                                                 |  |      |        |  |                                |  |          |      |  |  |          |   |  |  |          |  
|Gross profit                                     |  |      |        |  |                                |  | 201,549  |      |  |  | 182,970  |   |  |  | 164,039  |  
|Other income                                     |  |      | 5      |  |                                |  | 271      |      |  |  | 341      |   |  |  | 463      |  
|Sales and marketing costs                        |  |      | 5,7    |  |                                |  | (24,551  | )    |  |  | (22,818  | ) |  |  | (20,100  | )
|General and administrative costs                 |  |      | 5,7,10 |  |                                |  | (98,884  | )    |  |  | (90,134  | ) |  |  | (79,243  | )
|                                                 |  |      |        |  |                                |  |          |      |  |  |          |   |  |  |          |  
|Operating profit                                 |  |      | 5      |  |                                |  | 78,385   |      |  |  | 70,359   |   |  |  | 65,159   |  
|Finance income                                   |  |      | 8      |  |                                |  | 890      |      |  |  | 484      |   |  |  | 907      |  
|Finance expense                                  |  |      | 8      |  |                                |  | (28,766  | )    |  |  | (57,937  | ) |  |  | (18,653  | )
|                                                 |  |      |        |  |                                |  |          |      |  |  |          |   |  |  |          |  
|Profit before taxation                           |  |      |        |  |                                |  | 50,509   |      |  |  | 12,906   |   |  |  | 47,413   |  
|Income tax expense                               |  |      | 9      |  |                                |  | (15,449  | )    |  |  | (6,082   | ) |  |  | (15,782  | )
|                                                 |  |      |        |  |                                |  |          |      |  |  |          |   |  |  |          |  
|Profit for the year attributable to shareholders |  |      |        |  |                                |  | 35,060   |      |  |  | 6,824    |   |  |  | 31,631   |  
|                                                 |  |      |        |  |                                |  |          |      |  |  |          |   |  |  |          |  
|Earnings per share attributable to shareholders: |  |      |        |  |                                |  |          |      |  |  |          |   |  |  |          |  
|                                                 |  |      |        | 
|Basic earnings per share: ()                    |  |      | 16     |  |                                |  | 0.51     |      |  |  | 0.10     |   |  |  | 0.47     |  
|Diluted earnings per share: ()                  |  |      | 16     |  |                                |  | 0.50     |      |  |  | 0.10     |   |  |  | 0.46     |  

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME



|                                                                              |  |                                |        |   |      |  |        |      |  |  |        |  
|----------------------------------------------------------------------------- |  | ------------------------------ | ------ | - | ---- |  | ------ | ---- |  |  | ------ | -
|                                                                              |  | For the year ended December 31 |       
|                                                                              |  | 2014                           |        |   | 2013 |  |        | 2012 | 
|                                                                              |  | (000)                        |       
|Profit for the year attributable to shareholders                              |  |                                | 35,060 |   |      |  | 6,824  |      |  |  | 31,631 |  
|Other comprehensive income                                                    |  |                                |        |   |      |  |        |      |  |  |        |  
|Items that are, or may be, reclassified subsequently to profit or loss        |  |                                |        |   |      |  |        |      |  |  |        |  
|Foreign currency translation differences                                      |  |                                | 4,201  |   |      |  | (3,220 | )    |  |  | 2,588  |  
|Effective portion of changes in fair value of cash flow hedge                 |  |                                | (458   | ) |      |  | 90     |      |  |  |       |  
|Tax on items that are, or may be, reclassified subsequently to profit or loss |  |                                | (367   | ) |      |  | 544    |      |  |  | (571   | )
|                                                                              |  |                                |        |   |      |  |        |      |  |  |        |  
|Other comprehensive income/(loss), net of tax                                 |  |                                | 3,376  |   |      |  | (2,586 | )    |  |  | 2,017  |  
|                                                                              |  |                                |        |   |      |  |        |      |  |  |        |  
|Total comprehensive income attributable to shareholders                       |  |                                | 38,436 |   |      |  | 4,238  |      |  |  | 33,648 |  
|                                                                              |  |                                |        |   |      |  |        |      |  |  |        |  



Note:

The accompanying notes form an integral part
of these consolidated financial statements.



F-4



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##### Table of Contents

CONSOLIDATED STATEMENT OF FINANCIAL POSITION



|                                           |  |      |    |  |                   |  |           |      |  |  |          |   |  |  |          |  
|------------------------------------------ |  | ---- | -- |  | ----------------- |  | --------- | ---- |  |  | -------- | - |  |  | -------- | -
|                                           |  |      |    |  | As at December 31 | 
|                                           |  | Note |    |  | 2014              |  |           | 2013 |  |  | 2012     |  
|                                           |  |      |    |  | (000)           | 
|Non-current assets                         |  |      |    |  |                   |  |           |      |  |  |          |   |  |  |          |  
|Property, plant and equipment              |  |      | 10 |  |                   |  | 895,184   |      |  |  | 698,748  |   |  |  | 620,931  |  
|Intangible assets                          |  |      | 11 |  |                   |  | 18,996    |      |  |  | 17,878   |   |  |  | 18,638   |  
|Deferred tax assets                        |  |      | 9  |  |                   |  | 30,064    |      |  |  | 34,446   |   |  |  | 30,376   |  
|Financial asset                            |  |      | 12 |  |                   |  | 774       |      |  |  | 774      |   |  |  | 774      |  
|Other non-current assets                   |  |      | 13 |  |                   |  | 5,750     |      |  |  | 16,536   |   |  |  | 4,959    |  
|                                           |  |      |    |  |                   |  |           |      |  |  |          |   |  |  |          |  
|                                           |  |      |    |  |                   |  | 950,768   |      |  |  | 768,382  |   |  |  | 675,678  |  
|Current assets                             |  |      |    |  |                   |  |           |      |  |  |          |   |  |  |          |  
|Trade and other current assets             |  |      | 13 |  |                   |  | 120,762   |      |  |  | 96,703   |   |  |  | 74,854   |  
|Short term investments                     |  |      | 14 |  |                   |  | 1,650     |      |  |  |         |   |  |  |         |  
|Cash and cash equivalents                  |  |      | 14 |  |                   |  | 99,923    |      |  |  | 45,690   |   |  |  | 68,692   |  
|                                           |  |      |    |  |                   |  |           |      |  |  |          |   |  |  |          |  
|                                           |  |      |    |  |                   |  | 222,335   |      |  |  | 142,393  |   |  |  | 143,546  |  
|                                           |  |      |    |  |                   |  |           |      |  |  |          |   |  |  |          |  
|Total assets                               |  |      |    |  |                   |  | 1,173,103 |      |  |  | 910,775  |   |  |  | 819,224  |  
|                                           |  |      |    |  |                   |  |           |      |  |  |          |   |  |  |          |  
|Shareholders equity                       |  |      |    |  |                   |  |           |      |  |  |          |   |  |  |          |  
|Share capital                              |  |      | 15 |  |                   |  | 6,932     |      |  |  | 6,887    |   |  |  | 6,818    |  
|Share premium                              |  |      | 15 |  |                   |  | 495,109   |      |  |  | 485,347  |   |  |  | 477,326  |  
|Foreign currency translation reserve       |  |      | 15 |  |                   |  | 10,440    |      |  |  | 6,757    |   |  |  | 9,403    |  
|Hedging reserve, net of tax                |  |      | 15 |  |                   |  | (247      | )    |  |  | 60       |   |  |  |         |  
|Accumulated deficit                        |  |      | 15 |  |                   |  | (76,089   | )    |  |  | (111,149 | ) |  |  | (117,973 | )
|                                           |  |      |    |  |                   |  |           |      |  |  |          |   |  |  |          |  
|                                           |  |      |    |  |                   |  | 436,145   |      |  |  | 387,902  |   |  |  | 375,574  |  
|Non-current liabilities                    |  |      |    |  |                   |  |           |      |  |  |          |   |  |  |          |  
|Trade payables and other liabilities       |  |      | 17 |  |                   |  | 12,211    |      |  |  | 11,537   |   |  |  | 11,194   |  
|Deferred tax liability                     |  |      | 9  |  |                   |  | 7,029     |      |  |  | 4,147    |   |  |  | 2,414    |  
|Provision for onerous lease contracts      |  |      | 18 |  |                   |  | 1,491     |      |  |  | 4,855    |   |  |  | 7,848    |  
|Borrowings                                 |  |      | 19 |  |                   |  | 540,530   |      |  |  | 362,209  |   |  |  | 288,085  |  
|                                           |  |      |    |  |                   |  |           |      |  |  |          |   |  |  |          |  
|                                           |  |      |    |  |                   |  | 561,261   |      |  |  | 382,748  |   |  |  | 309,541  |  
|Current liabilities                        |  |      |    |  |                   |  |           |      |  |  |          |   |  |  |          |  
|Trade payables and other liabilities       |  |      | 17 |  |                   |  | 146,502   |      |  |  | 132,093  |   |  |  | 127,778  |  
|Income tax liabilities                     |  |      |    |  |                   |  | 4,690     |      |  |  | 2,229    |   |  |  | 2,301    |  
|Provision for onerous lease contracts      |  |      | 18 |  |                   |  | 3,443     |      |  |  | 4,020    |   |  |  | 3,978    |  
|Borrowings                                 |  |      | 19 |  |                   |  | 21,062    |      |  |  | 1,783    |   |  |  | 52       |  
|                                           |  |      |    |  |                   |  |           |      |  |  |          |   |  |  |          |  
|                                           |  |      |    |  |                   |  | 175,697   |      |  |  | 140,125  |   |  |  | 134,109  |  
|                                           |  |      |    |  |                   |  |           |      |  |  |          |   |  |  |          |  
|Total liabilities                          |  |      |    |  |                   |  | 736,958   |      |  |  | 522,873  |   |  |  | 443,650  |  
|                                           |  |      |    |  |                   |  |           |      |  |  |          |   |  |  |          |  
|Total liabilities and shareholders equity |  |      |    |  |                   |  | 1,173,103 |      |  |  | 910,775  |   |  |  | 819,224  |  
|                                           |  |      |    |  |                   |  |           |      |  |  |          |   |  |  |          |  



Note:The accompanying notes form an integral part of these consolidated financial statements.



F-5



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##### Table of Contents

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY



|                                                                   |  |      |    |  |              |  |       |              |  |  |                                   |  |  |                |        |   |                    |  |      |             |  |  |          |   |  |  |         |  
|------------------------------------------------------------------ |  | ---- | -- |  | ------------ |  | ----- | ------------ |  |  | --------------------------------- |  |  | -------------- | ------ | - | ------------------ |  | ---- | ----------- |  |  | -------- | - |  |  | ------- | -
|                                                                   |  | Note |    |  | Sharecapital |  |       | Sharepremium |  |  | Foreigncurrencytranslationreserve |  |  | HedgingReserve |        |   | Accumulateddeficit |  |      | Totalequity | 
|                                                                   |  |      |    |  | (000)      | 
|Balance at January 1, 2014                                         |  |      |    |  |              |  | 6,887 |              |  |  | 485,347                           |  |  |                | 6,757  |   |                    |  | 60   |             |  |  | (111,149 | ) |  |  | 387,902 |  
|Profit for the year                                                |  |      |    |  |              |  |      |              |  |  |                                  |  |  |                |       |   |                    |  |     |             |  |  | 35,060   |   |  |  | 35,060  |  
|Hedging result, net of tax                                         |  |      |    |  |              |  |      |              |  |  |                                  |  |  |                |       |   |                    |  | (307 | )           |  |  |         |   |  |  | (307    | )
|Total other comprehensive income/(loss), net of tax                |  |      |    |  |              |  |      |              |  |  |                                  |  |  |                | 3,683  |   |                    |  |     |             |  |  |         |   |  |  | 3,683   |  
|Total comprehensive income/ (loss), net of tax                     |  |      |    |  |              |  |      |              |  |  |                                  |  |  |                | 3,683  |   |                    |  | (307 | )           |  |  | 35,060   |   |  |  | 38,436  |  
|Exercise of options                                                |  |      |    |  |              |  | 45    |              |  |  | 3,278                             |  |  |                |       |   |                    |  |     |             |  |  |         |   |  |  | 3,323   |  
|Share-based payments                                               |  |      | 21 |  |              |  |      |              |  |  | 6,484                             |  |  |                |       |   |                    |  |     |             |  |  |         |   |  |  | 6,484   |  
|Total contribution by, and distributions to, owners of the Company |  |      |    |  |              |  | 45    |              |  |  | 9,762                             |  |  |                |       |   |                    |  |     |             |  |  |         |   |  |  | 9,807   |  
|                                                                   |  |      |    |  |              |  |       |              |  |  |                                   |  |  |                |        |   |                    |  |      |             |  |  |          |   |  |  |         |  
|Balance at December 31, 2014                                       |  |      |    |  |              |  | 6,932 |              |  |  | 495,109                           |  |  |                | 10,440 |   |                    |  | (247 | )           |  |  | (76,089  | ) |  |  | 436,145 |  
|                                                                   |  |      |    |  |              |  |       |              |  |  |                                   |  |  |                |        |   |                    |  |      |             |  |  |          |   |  |  |         |  
|Balance at January 1, 2013                                         |  |      |    |  |              |  | 6,818 |              |  |  | 477,326                           |  |  |                | 9,403  |   |                    |  |     |             |  |  | (117,973 | ) |  |  | 375,574 |  
|Profit for the year                                                |  |      |    |  |              |  |      |              |  |  |                                  |  |  |                |       |   |                    |  |     |             |  |  | 6,824    |   |  |  | 6,824   |  
|Hedging result, net of tax                                         |  |      |    |  |              |  |      |              |  |  |                                  |  |  |                |       |   |                    |  | 60   |             |  |  |         |   |  |  | 60      |  
|Total other comprehensive income/(loss), net of tax                |  |      |    |  |              |  |      |              |  |  |                                  |  |  |                | (2,646 | ) |                    |  |     |             |  |  |         |   |  |  | (2,646  | )
|Total comprehensive income/ (loss), net of tax                     |  |      |    |  |              |  |      |              |  |  |                                  |  |  |                | (2,646 | ) |                    |  | 60   |             |  |  | 6,824    |   |  |  | 4,238   |  
|Exercise of options                                                |  |      |    |  |              |  | 69    |              |  |  | 4,431                             |  |  |                |       |   |                    |  |     |             |  |  |         |   |  |  | 4,500   |  
|Share-based payments                                               |  |      | 21 |  |              |  |      |              |  |  | 3,590                             |  |  |                |       |   |                    |  |     |             |  |  |         |   |  |  | 3,590   |  
|Total contribution by, and distributions to, owners of the Company |  |      |    |  |              |  | 69    |              |  |  | 8,021                             |  |  |                |       |   |                    |  |     |             |  |  |         |   |  |  | 8,090   |  
|                                                                   |  |      |    |  |              |  |       |              |  |  |                                   |  |  |                |        |   |                    |  |      |             |  |  |          |   |  |  |         |  
|Balance at December 31, 2013                                       |  |      |    |  |              |  | 6,887 |              |  |  | 485,347                           |  |  |                | 6,757  |   |                    |  | 60   |             |  |  | (111,149 | ) |  |  | 387,902 |  
|                                                                   |  |      |    |  |              |  |       |              |  |  |                                   |  |  |                |        |   |                    |  |      |             |  |  |          |   |  |  |         |  



Note:

The accompanying notes form an integral part
of these consolidated financial statements.



F-6



---

##### Table of Contents

|                                                                   |  |  |    |  |  |  |       |  |  |  |         |  |  |  |       |  |  |  |   |  |  |  |          |   |  |  |         | 
|------------------------------------------------------------------ |  |  | -- |  |  |  | ----- |  |  |  | ------- |  |  |  | ----- |  |  |  | - |  |  |  | -------- | - |  |  | ------- | 
|Balance at January 1, 2012                                         |  |  |    |  |  |  | 6,613 |  |  |  | 466,166 |  |  |  | 7,386 |  |  |  |  |  |  |  | (149,604 | ) |  |  | 330,561 | 
|Profit for the year                                                |  |  |    |  |  |  |      |  |  |  |        |  |  |  |      |  |  |  |  |  |  |  | 31,631   |   |  |  | 31,631  | 
|Total other comprehensive income, net of tax                       |  |  |    |  |  |  |      |  |  |  |        |  |  |  | 2,017 |  |  |  |  |  |  |  |         |   |  |  | 2,017   | 
|Total comprehensive income, net of tax                             |  |  |    |  |  |  |      |  |  |  |        |  |  |  | 2,017 |  |  |  |  |  |  |  | 31,631   |   |  |  | 33,648  | 
|Exercise of options                                                |  |  |    |  |  |  | 205   |  |  |  | 7,750   |  |  |  |      |  |  |  |  |  |  |  |         |   |  |  | 7,955   | 
|Share-based payments                                               |  |  | 21 |  |  |  |      |  |  |  | 3,410   |  |  |  |      |  |  |  |  |  |  |  |         |   |  |  | 3,410   | 
|Total contribution by, and distributions to, owners of the Company |  |  |    |  |  |  | 205   |  |  |  | 11,160  |  |  |  |      |  |  |  |  |  |  |  |         |   |  |  | 11,365  | 
|                                                                   |  |  |    |  |  |  |       |  |  |  |         |  |  |  |       |  |  |  |   |  |  |  |          |   |  |  |         | 
|Balance at December 31, 2012                                       |  |  |    |  |  |  | 6,818 |  |  |  | 477,326 |  |  |  | 9,403 |  |  |  |  |  |  |  | (117,973 | ) |  |  | 375,574 | 
|                                                                   |  |  |    |  |  |  |       |  |  |  |         |  |  |  |       |  |  |  |   |  |  |  |          |   |  |  |         | 

Since no minority shareholders in Group equity exist, the Group equity is entirely attributable to the parents
shareholders.





Note:

The accompanying notes form an integral part
of these consolidated financial statements.



F-7



---

##### Table of Contents

CONSOLIDATED STATEMENT OF CASH FLOWS



|                                                                           |  |      |       |  |                                 |  |          |      |  |  |          |   |  |  |          |  
|-------------------------------------------------------------------------- |  | ---- | ----- |  | ------------------------------- |  | -------- | ---- |  |  | -------- | - |  |  | -------- | -
|                                                                           |  |      |       |  | For the years ended December 31 | 
|                                                                           |  | Note |       |  | 2014                            |  |          | 2013 |  |  | 2012     |  
|                                                                           |  |      |       |  | (000)                         | 
|Profit for the year                                                        |  |      |       |  |                                 |  | 35,060   |      |  |  | 6,824    |   |  |  | 31,631   |  
|Depreciation, amortization and impairments                                 |  |      | 10,11 |  |                                 |  | 62,177   |      |  |  | 57,670   |   |  |  | 43,993   |  
|Provision for onerous lease contracts                                      |  |      | 18    |  |                                 |  | (4,172   | )    |  |  | (3,285   | ) |  |  | (2,328   | )
|Share-based payments                                                       |  |      | 21    |  |                                 |  | 6,576    |      |  |  | 4,149    |   |  |  | 5,488    |  
|Net finance expense                                                        |  |      | 8     |  |                                 |  | 27,876   |      |  |  | 57,453   |   |  |  | 17,746   |  
|Income tax expense                                                         |  |      | 9     |  |                                 |  | 15,449   |      |  |  | 6,082    |   |  |  | 15,782   |  
|                                                                           |  |      |       |  |                                 |  |          |      |  |  |          |   |  |  |          |  
|                                                                           |  |      |       |  |                                 |  | 142,966  |      |  |  | 128,893  |   |  |  | 112,312  |  
|                                                                           |  |      |       |  |                                 |  |          |      |  |  |          |   |  |  |          |  
|Movements in trade and other current assets                                |  |      |       |  |                                 |  | (24,026  | )    |  |  | (22,712  | ) |  |  | (7,154   | )
|Movements in trade and other liabilities                                   |  |      |       |  |                                 |  | 16,478   |      |  |  | (3,510   | ) |  |  | 6,543    |  
|                                                                           |  |      |       |  |                                 |  |          |      |  |  |          |   |  |  |          |  
|Cash generated from operations                                             |  |      |       |  |                                 |  | 135,418  |      |  |  | 102,671  |   |  |  | 111,701  |  
|                                                                           |  |      |       |  |                                 |  |          |      |  |  |          |   |  |  |          |  
|Interest and fees paid                                                     |  |      |       |  |                                 |  | (25,166  | )    |  |  | (22,747  | ) |  |  | (18,081  | )
|Interest received                                                          |  |      |       |  |                                 |  | 471      |      |  |  | 569      |   |  |  | 1,007    |  
|Income tax paid                                                            |  |      |       |  |                                 |  | (6,305   | )    |  |  | (7,930   | ) |  |  | (5,545   | )
|                                                                           |  |      |       |  |                                 |  |          |      |  |  |          |   |  |  |          |  
|Net cash flow from operating activities                                    |  |      |       |  |                                 |  | 104,418  |      |  |  | 72,563   |   |  |  | 89,082   |  
|                                                                           |  |      |       |  |                                 |  |          |      |  |  |          |   |  |  |          |  
|Cash flows from investing activities                                       |  |      |       |  |                                 |  |          |      |  |  |          |   |  |  |          |  
|Purchase of property, plant and equipment                                  |  |      |       |  |                                 |  | (212,938 | )    |  |  | (140,251 | ) |  |  | (172,036 | )
|Purchase of intangible assets                                              |  |      |       |  |                                 |  | (3,339   | )    |  |  | (3,130   | ) |  |  | (6,295   | )
|Acquisition of financial assets                                            |  |      |       |  |                                 |  |         |      |  |  |         |   |  |  | (774     | )
|Acquisition of short-term investments                                      |  |      | 14    |  |                                 |  | (1,650   | )    |  |  |         |   |  |  |         |  
|                                                                           |  |      |       |  |                                 |  |          |      |  |  |          |   |  |  |          |  
|Net cash flow used in investing activities                                 |  |      |       |  |                                 |  | (217,927 | )    |  |  | (143,381 | ) |  |  | (179,105 | )
|                                                                           |  |      |       |  |                                 |  |          |      |  |  |          |   |  |  |          |  
|Cash flows from financing activities                                       |  |      |       |  |                                 |  |          |      |  |  |          |   |  |  |          |  
|Proceeds from exercised options                                            |  |      |       |  |                                 |  | 3,324    |      |  |  | 4,500    |   |  |  | 7,956    |  
|Proceeds from mortgages                                                    |  |      |       |  |                                 |  | 9,185    |      |  |  | 15,490   |   |  |  | 9,890    |  
|Repayment of mortgages                                                     |  |      |       |  |                                 |  | (2,041   | )    |  |  | (1,167   | ) |  |  |         |  
|Proceeds from revolving facility                                           |  |      |       |  |                                 |  | 30,000   |      |  |  |         |   |  |  |         |  
|Repayments of revolving facility                                           |  |      |       |  |                                 |  | (30,000  | )    |  |  |         |   |  |  |         |  
|Proceeds 6% Senior Secured Notes due 2020                                  |  |      |       |  |                                 |  | 157,878  |      |  |  | 317,045  |   |  |  |         |  
|Repayment 9.50% Senior Secured Notes due 2017                              |  |      |       |  |                                 |  |         |      |  |  | (286,478 | ) |  |  |         |  
|Payments for revolving facility agreement                                  |  |      |       |  |                                 |  |         |      |  |  | (1,398   | ) |  |  | (1,159   | )
|Interest received at issuance of Additional Notes                          |  |      |       |  |                                 |  | 2,600    |      |  |  |         |   |  |  |         |  
|Interest paid related to interest received at issuance of Additional Notes |  |      |       |  |                                 |  | (2,600   | )    |  |  |         |   |  |  |         |  
|Transaction costs related to senior secured facility                       |  |      |       |  |                                 |  | (646     | )    |  |  |         |   |  |  |         |  
|Repayment of other borrowings                                              |  |      |       |  |                                 |  | (72      | )    |  |  | (81      | ) |  |  | (804     | )
|                                                                           |  |      |       |  |                                 |  |          |      |  |  |          |   |  |  |          |  
|Net cash flow from financing activities                                    |  |      |       |  |                                 |  | 167,628  |      |  |  | 47,911   |   |  |  | 15,883   |  
|Effect of exchange rate changes on cash                                    |  |      |       |  |                                 |  | 114      |      |  |  | (95      | ) |  |  | 163      |  
|                                                                           |  |      |       |  |                                 |  |          |      |  |  |          |   |  |  |          |  
|Net movement in cash and cash equivalents                                  |  |      |       |  |                                 |  | 54,233   |      |  |  | (23,002  | ) |  |  | (73,977  | )
|Cash and cash equivalents, beginning of year                               |  |      |       |  |                                 |  | 45,690   |      |  |  | 68,692   |   |  |  | 142,669  |  
|                                                                           |  |      |       |  |                                 |  |          |      |  |  |          |   |  |  |          |  
|Cash and cash equivalents, end of year                                     |  |      | 14    |  |                                 |  | 99,923   |      |  |  | 45,690   |   |  |  | 68,692   |  
|                                                                           |  |      |       |  |                                 |  |          |      |  |  |          |   |  |  |          |  



Note: The accompanying notes form an integral part of these consolidated financial statements.



F-8



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##### Table of Contents

NOTES TO THE 2014 CONSOLIDATED FINANCIAL STATEMENTS



|1 | The Company
|- | -----------

Interxion Holding N.V. (the Company) is domiciled in The
Netherlands. The Companys registered office is at Tupolevlaan 24, 1119 NX Schiphol-Rijk, The Netherlands. The consolidated financial statements of the Company for the year ended December 31, 2014 comprise the Company and its subsidiaries
(together referred to as the Group). The Group is a leading pan-European operator of carrier-neutral Internet data centers.

The financial statements, which were approved and authorised for issue by the Board of Directors on April 28, 2015, are subject to adoption by
the General Meeting of Shareholders.



|2 | Basis of preparation
|- | --------------------

Statement of compliance

The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRSs),
effective as at December 31, 2014, as issued by the Internal Accounting Standards Board (IASB), and IFRS as adopted by the European Union, and also comply with the financial reporting requirements included in Part 9 of Book 2 of The
Netherlands Civil Code.

Basis of measurement

The Group prepared its consolidated financial statements on a going-concern basis and under the historical cost convention except for certain
financial instruments that have been measured at fair value.

Change in accounting policies

Except for the changes below, the Group has consistently applied the accounting policies set out below to all periods presented in these
consolidated financial statements. The standards below are applicable for financial statements as prepared after January 1, 2014 for IFRS as issued by the International Accounting Standards Board, and are effective for IFRS as endorsed by the
European Union for periods ending after January 1, 2015. For preparation of these financial statements, these standards have been early adopted under IFRS as endorsed by European Union.

Amendment to IAS 32  Financial instruments: Presentation

This amendment clarifies some of the requirements for offsetting financial assets and financial liabilities on the statement of financial
position. The amendment clarifies that the right of set-off must be available today, and is not contingent on a future event. Furthermore it clarifies that gross settlements with features that (i) eliminate credit and liquidity risk and
(ii) process receivables and payables in a single settlement process, are effectively equivalent to net settlements, and therefore satisfy the IAS 32 criterion. The amendment has no impact on the Groups assets and liabilities.

Amendment to IAS 36  Impairment of assets

This amendment has made small changes to the disclosures required by this standard when the recoverable amount is determined based on fair
value less costs of disposal. The amendment has impact when an impairment loss on non-financial assets is recognized or reversed. The amendment has no impact on the disclosure on the Groups assets and liabilities.

Amendment to IAS 39  Financial instruments: Recognition and measurement

The amendment relates to the novation of derivatives and the continuation of hedge accounting. This amendment considers legislative changes to
over-the-counter derivatives and the establishment of central counterparties. Under IAS 39 novation of derivatives to central counterparties would result in discontinuance of hedge accounting. The amendment provides relief from
discontinuing hedge accounting when novation of a hedging instrument meets specified criteria. The group has applied the amendment and there has been no significant impact on the group financial statements as a result.



F-9



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##### Table of Contents

IFRIC 21  Levies

The Group has adopted IFRIC 21  Levies with a date of January 1, 2014. IFRIC 21 sets out the accounting for an obligation to pay a
levy when that liability is within the scope of IAS 37 Provisions. The interpretation addresses what the obligating event is that gives rise to pay a levy and when a liability should be recognized. The Group is not currently subject to
significant levies so the impact on the Group is not significant.

IFRS 10 Consolidated Financial Statements, IFRS 11
Joint Arrangements, IFRS 12 Disclosure of Interests in Other Entities and revised standards IAS 27 Separate Financial Statements and IAS 28 Investments in Associates and Joint Ventures were issued during
2011 and are required to be adopted, with retrospective effect, by January 1, 2013 as per IFRS as issued by the IASB and by January 1, 2014 as per IFRS as endorsed by the European Union. These standards have already been early adopted in
the Groups 2013 financial statements.

Use of estimates and judgments

The preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect
the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates, which together with underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.

Judgments,
estimates and assumptions applied by management in preparing these financial statements are based on circumstances as at December 31, 2014 and Interxion operating as a stand-alone company. The closing of the intended transaction with Telecity
Group Plc. (reference is made to Note 26 Events subsequent to the balance sheet date), may have an impact in the future on the judgments, estimates and assumptions as applied by management in preparing our financial statements.

In particular, information about significant areas of estimation uncertainty and critical judgments in applying accounting policies that have
the most significant effect on amounts recognized in the financial statements are discussed below:

Property, plant and equipment
depreciation (see also Note 10)  Estimated remaining useful lives and residual values are reviewed annually. The carrying values of property, plant and equipment are also reviewed for impairment, where there has been a triggering event, by
assessing the present value of estimated future cash flows and net realizable value compared with net book value. The calculation of estimated future cash flows and residual values is based on the Groups best estimates of future prices, output
and costs and is, therefore, subjective. Furthermore, the valuation of some of the assets under construction requires judgments which are related to the probability of signing lease contracts and obtaining planning permits.

In February 2015, management received notification from the local Madrid municipal authorities that the Companys subsidiary in Spain
lacks certain required certificates of data center occupation and operation at our data centers in Madrid (MAD 1 and MAD 2). While we have since then obtained these certificates for the MAD 1 data center, we have made good progress obtaining these
certificates for the MAD 2 data center. Based on our positive experience in obtaining the certificates for MAD 1, management is confident that the certificates for the MAD 2 data center will be obtained in due course, and the lack thereof is not
considered an impairment triggering event.

In the fourth quarter of the year 2013, as part of the annual review of the estimated useful
lives, the Company concluded that certain of our existing assets are used longer than originally anticipated. The estimated useful lives of certain of our property, plant and equipment have, therefore, been extended. This change was accounted for as
a change in accounting estimate on a prospective basis effective October 1, 2013 under IAS 8 Change in Accounting Estimates. In the fourth quarter of the year 2013, approximately 2 million lower depreciation expenses were
recorded as a result of the changes in the estimated useful lives of certain of our property, plant and equipment. On an annualised basis for the year 2013, the depreciation charges would have been approximately 8 million lower.

Intangible fixed assets amortization (see also Note 11) Estimated remaining useful lives and residual values are reviewed
annually. The carrying values of intangible fixed assets are also reviewed for impairment where there has been a triggering event by assessing the present value of estimated future cash flows and net realizable value compared with net book value.
The calculation of estimated future cash flows and residual values is based on the Groups best estimates of future prices, output and costs and is, therefore, subjective.



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Lease accounting (see also Note 22)  At inception or modification of an arrangement,
the Group determines whether such an arrangement is, or contains, a lease. Classification of a lease contract is based on the extent to which risks and rewards incidental to ownership of a leased asset lie with the lessor or the lessee. The
classification of lease contracts includes the use of judgments and estimates.

Provision for onerous lease contracts (see also Note
18)  A provision is made for the discounted amount of future losses that are expected to be incurred in respect of unused data center sites over the term of the leases. Where unused sites have been sublet, or partly sublet, management has
taken account of the contracted sublease income expected to be received over the minimum sublease term, which meets the Groups revenue recognition criteria in arriving at the amount of future losses.

Costs of site restoration (see also Note 24)  Liabilities in respect of obligations to restore premises to their original
condition are estimated at the commencement of the lease and reviewed yearly, based on the rent period, contracted extension possibilities and possibilities of lease terminations.

Deferred taxation (see also Note 9)  Provision is made for deferred taxation at the rates of tax prevailing at the period-end
dates unless future rates have been substantively enacted. Deferred tax assets are recognized where it is probable that they will be recovered based on estimates of future taxable profits for each tax jurisdiction. The actual profitability may be
different depending on local financial performance in each tax jurisdiction.

Share-based payments (see also Note 21)  The
Group issues equity-settled share-based payments to certain employees under the terms of the long-term incentive plans. The charges related to equity-settled share-based payments, options to purchase ordinary shares and restricted and performance
shares, are measured at fair value at the date of grant. The fair value at the grant date of options is determined using the Black Scholes model and is expensed over the vesting period. The fair value at grant date of the performance shares is
determined using the Monte Carlo model and is expensed over the vesting period. The value of the expense is dependent upon certain assumptions including the expected future volatility of the Groups share price at the date of grant and for the
performance shares the relative performance of the Groups share price compared to a group of peer companies.

Senior Secured
Notes due 2020 (see also Note 19) The Senior Secured Notes due 2020 are valued at amortized cost. The Senior Secured Notes due 2020 indenture includes specific early redemption clauses. As part of the initial measurement of the amortized
costs value of the Senior Secured Notes due 2020 it is assumed that the Notes will be held to maturity. If an early redemption of all or part of the Notes is expected, the liability will be re-measured based on the original effective interest rate.
The difference between the liability, excluding a change in assumed early redemption and the liability, including a change in assumed early redemption, will go through the profit and loss.

Functional and presentation currency

These consolidated financial statements are presented in euro, the Companys functional and presentation currency. All information
presented in euros has been rounded to the nearest thousand, except when stated otherwise.



|3 | Significant accounting policies
|- | -------------------------------

Basis of consolidation

The consolidated financial statements incorporate the financial statements of the Company and all entities that are directly or indirectly
controlled by the Company. Subsidiaries are entities that are controlled by the Group. The Group controls an entity when it is exposed to, or has the right to, variable returns from its involvement with the entity and has the ability to affect those
returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date on which control commences until the date on which control ceases.

The accounting policies set out below have been applied consistently by all subsidiaries to all periods presented in these consolidated
financial statements.



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Loss of control

When the Group loses control over a subsidiary, the Company de-recognizes the assets and liabilities of the subsidiary, any non-controlling
interests and the other components of equity related to the subsidiary. Any surplus or deficit arising on the loss of control is recognized in profit or loss.

Transactions eliminated on consolidation

Intercompany balances and transactions, and any unrealized income and expenses arising from intercompany transactions, are eliminated in
preparing the consolidated financial statements.

Subsidiaries

With the exception of Stichting Administratiekantoor Management Interxion, all the subsidiary undertakings of the Group as set out below are
wholly owned. Stichting Administratiekantoor is part of the consolidation based on the Groups control over the entity.



| |  |  | Interxion HeadQuarters B.V., Amsterdam, The Netherlands;
| | - |  | --------------------------------------------------------



| |  |  | Interxion Nederland B.V., Amsterdam, The Netherlands;
| | - |  | -----------------------------------------------------



| |  |  | Interxion Trademarks B.V., Amsterdam, The Netherlands;
| | - |  | ------------------------------------------------------



| |  |  | Interxion Österreich GmbH, Vienna, Austria;
| | - |  | -------------------------------------------



| |  |  | Interxion Real Estate VII GmbH, Vienna, Austria;
| | - |  | ------------------------------------------------



| |  |  | Interxion Belgium N.V., Brussels, Belgium;
| | - |  | ------------------------------------------



| |  |  | Interxion Real Estate IX N.V., Brussels, Belgium;
| | - |  | -------------------------------------------------



| |  |  | Interxion Denmark ApS, Copenhagen, Denmark;
| | - |  | -------------------------------------------



| |  |  | Interxion Real Estate VI ApS, Copenhagen, Denmark;
| | - |  | --------------------------------------------------



| |  |  | Interxion France SAS, Paris, France;
| | - |  | ------------------------------------



| |  |  | Interxion Real Estate II SARL, Paris, France;
| | - |  | ---------------------------------------------



| |  |  | Interxion Real Estate III SARL, Paris, France;
| | - |  | ----------------------------------------------



| |  |  | Interxion Real Estate XI SARL, Paris, France;
| | - |  | ---------------------------------------------



| |  |  | Interxion Deutschland GmbH, Frankfurt, Germany;
| | - |  | -----------------------------------------------



| |  |  | Interxion Ireland Ltd, Dublin, Ireland;
| | - |  | ---------------------------------------



| |  |  | Interxion Telecom SRL, Milan, Italy;
| | - |  | ------------------------------------



| |  |  | Interxion España SA, Madrid, Spain;
| | - |  | -----------------------------------



| |  |  | Interxion Sverige AB, Stockholm, Sweden;
| | - |  | ----------------------------------------



| |  |  | Interxion (Schweiz) AG, Zurich, Switzerland;
| | - |  | --------------------------------------------



| |  |  | Interxion Real Estate VIII AG, Zurich, Switzerland;
| | - |  | ---------------------------------------------------



| |  |  | Interxion Carrier Hotel Ltd., London, United Kingdom;
| | - |  | -----------------------------------------------------



| |  |  | Interxion Europe Ltd., London, United Kingdom;
| | - |  | ----------------------------------------------



| |  |  | Interxion Real Estate Holding B.V., Amsterdam, The Netherlands;
| | - |  | ---------------------------------------------------------------



| |  |  | Interxion Real Estate I B.V., Amsterdam, The Netherlands;
| | - |  | ---------------------------------------------------------



| |  |  | Interxion Real Estate IV B.V., Amsterdam, The Netherlands;
| | - |  | ----------------------------------------------------------



| |  |  | Interxion Real Estate V B.V., Amsterdam, The Netherlands;
| | - |  | ---------------------------------------------------------



| |  |  | Interxion Real Estate X B.V., Amsterdam, The Netherlands;
| | - |  | ---------------------------------------------------------



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##### Table of Contents

| |  |  | Interxion Operational B.V., Amsterdam, The Netherlands;
| | - |  | -------------------------------------------------------



| |  |  | Interxion Datacenters B.V., The Hague, The Netherlands (formerly Centennium Detachering B.V.);
| | - |  | ----------------------------------------------------------------------------------------------



| |  |  | Interxion Consultancy Services B.V., Amsterdam, The Netherlands (dormant);
| | - |  | --------------------------------------------------------------------------



| |  |  | Interxion Telecom B.V., Amsterdam, The Netherlands (dormant);
| | - |  | -------------------------------------------------------------



| |  |  | Interxion Trading B.V., Amsterdam, The Netherlands (dormant);
| | - |  | -------------------------------------------------------------



| |  |  | Interxion B.V., Amsterdam, The Netherlands (dormant);
| | - |  | -----------------------------------------------------



| |  |  | Interxion Telecom Ltd., London, United Kingdom (dormant);
| | - |  | ---------------------------------------------------------



| |  |  | Stichting Administratiekantoor Management Interxion, Amsterdam, The Netherlands.
| | - |  | --------------------------------------------------------------------------------

Foreign currency

Foreign currency transactions

The
individual financial statements of each Group entity are presented in the currency of the primary economic environment in which the entity operates (its functional currency). For the purpose of the consolidated financial statements, the results and
the financial position of each entity are expressed in euros, which is the functional currency of the Company and the presentation currency for the consolidated financial statements.

In preparing the financial statements of the individual entities, transactions in foreign currencies other than the entitys functional
currency are recorded at the rates of exchange prevailing at the dates of the transactions. At each balance sheet date, monetary assets and liabilities denominated in foreign currencies are retranslated at the rates prevailing at the balance sheet
date. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. The income and expenses of foreign operations are translated to euros at average exchange rates.

Foreign operations

For the purpose of
presenting consolidated financial statements, the assets and liabilities of the Groups foreign operations are expressed in euros using exchange rates prevailing at the balance sheet date. Income and expense items are translated at average
exchange rates for the period. Exchange differences, if any, arising on net investments including receivables from or payables to a foreign operation for which settlement is neither planned nor likely to occur, are recognized directly in the foreign
currency translation reserve (FCTR) within equity. When control over a foreign operation is lost, in part or in full, the relevant amount in the FCTR is transferred to profit or loss.

Borrowing costs

Borrowing costs directly
attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time
as the assets are substantially ready for their intended use or sale. All other borrowing costs are recognized in profit or loss in the period in which they are incurred.

Borrowing costs are capitalized based on the effective interest rate of the Senior Secured Notes.

Statement of cash flows

The consolidated
statement of cash flows is prepared using the indirect method. The cash flow statement distinguishes between operating, investing and financing activities.

Cash flows in foreign currencies are converted at the exchange rate at the dates of the transactions. Currency exchange differences on cash
held are separately shown. Payments and receipts of corporate income taxes and interest paid are included as cash flow from operating activities.



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Financial instruments

Derivative financial instruments

Derivatives are initially recognized at fair value; any attributable transaction costs are recognized in profit and loss as they are incurred.
Subsequent to initial recognition, derivatives are measured at their fair value, and changes therein are generally recognized in profit and loss.

When a derivative is designated as a cash flow hedging instrument, the effective portion of changes in the fair value of the derivative is
recognized in OCI and accumulated in the hedging reserve. Any ineffective portion of changes in the fair value of the derivative is recognized immediately in profit or loss.

The amount accumulated in equity is retained in OCI and reclassified to the profit or loss in the same period, or periods, during which the
hedged item affects profit or loss.

If the hedging instrument no longer meets the criteria for hedge accounting, expires, is sold,
terminated or exercised, or the designation is revoked, hedge accounting is discontinued prospectively. If the forecast transaction is no longer expected to occur, the amount accumulated in equity is reclassified to profit or loss.

Fair values are obtained from quoted market prices in active markets or, where an active market does not exist, by using valuation techniques.
Valuation techniques include discounted cash flow models.

Non-derivative financial instruments

Non-derivative financial instruments comprise trade and other receivables, cash and cash equivalents, loans and borrowings, and trade and other
payables.

Non-derivative financial instruments are recognized initially at fair value, net of any directly attributable transaction
costs. Subsequent to initial recognition, non-derivative financial instruments are measured at amortized cost using the effective interest method, less any impairment losses.

The Group de-recognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the right to
receive the contractual cash flows in a transaction in which substantially all the risk and rewards of ownership of the financial asset are transferred. Any interest in such transferred financial assets that is created or retained by the Group is
recognized as a separate asset or liability.

Financial assets and liabilities are offset and the net amount presented in the statement of
financial position when, and only when, the Group has a legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously.

Financial assets are designated as at fair value through profit and loss if the Group manages such investments and makes purchase and sale
decisions based on their fair value in accordance with the Groups risk management or investment strategy. Attributable transaction costs are recognized in profit and loss as incurred. Financial assets at fair value through profit and loss are
measured at fair value and changes therein, which takes into account any dividend income, are recognized in profit and loss.

The fair
values of investments in equity are determined with reference to their quoted closing bid price at the measurement date or, if unquoted, using a valuation technique.

Trade receivables and other current assets

Trade receivables and other current assets are recognized initially at fair value and subsequently measured at amortized cost using the
effective interest method, less provision for impairment.

A provision for impairment of trade receivables and other current assets is
established when there is objective evidence that the Group will not be able to collect all amounts due according to the original term of the receivables. Significant financial difficulties of the debtor, probability that the debtor will enter
bankruptcy or financial reorganization, and default or delinquency in payments are considered indicators that the trade receivable is impaired.

The amount of the provision is the difference between the assets carrying amount and the present value of estimated future cash flows,
discounted at the original effective interest rate. The carrying amount of the asset is reduced through the use of an allowance account, and the amount of the loss is recognized in the income statement.



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When a trade receivable and other current asset is uncollectable, it is written off against the
allowance account for trade receivables. Subsequent recoveries of amounts previously written off are credited in the income statement.

Cash and cash
equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly liquid
investments with original maturities of three months or less. Cash and cash equivalents, including short-term investments, is valued at face value, which equals its fair value.

Share capital

Ordinary shares are
classified as equity. Incremental costs directly attributable to the issue of ordinary shares and share options are recognized as a deduction from equity, net of any tax effects.

Trade payables and other current liabilities

Trade payables and other current liabilities are recognized initially at fair value and subsequently measured at amortized cost using the
effective interest method.

Property, plant and equipment

Property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment losses.

Cost includes expenditure that is directly attributable to the acquisition or construction of the asset and comprises purchase cost, together
with the incidental costs of installation and commissioning. These costs include external consultancy fees, capitalized borrowing costs, rent and associated costs attributable to bringing the assets to a working condition for their intended used and
internal employment costs that are directly and exclusively related to the underlying asset. Where it is probable that the underlying property lease will not be renewed, the cost of self-constructed assets includes the estimated costs of dismantling
and removing the items and restoring the site on which they are located.

When parts of an item of property, plant and equipment have
different useful lives, they are accounted for as separate items (major components) of property, plant and equipment.

Gains and losses on
disposal of an item of property, plant and equipment are determined by comparing the proceeds from disposal with the carrying amount of property, plant and equipment and are recognized within income.

The cost of replacing part of an item of property, plant and equipment is recognized in the carrying amount of the item if it is probable that
the future economic benefits embodied within the part will flow to the Group and its cost can be measured reliably. The carrying amount of the replaced part is de-recognized. The costs of the day-to-day servicing of property, plant and equipment are
recognized in profit or loss as incurred.

Depreciation is calculated from the date an asset becomes available for use and is depreciated
on a straight-line basis over the estimated useful life of each part of an item of property, plant and equipment. Leased assets are depreciated on the same basis as owned assets over the shorter of the lease term and their useful lives. The
principal periods used for this purpose are:



|                                         |  |                
|---------------------------------------- |  | ---------------
|Data center freehold land                |  | Not depreciated
|                                         | 
|Data center buildings                    |  | 1530 years    
|                                         | 
|Data center infrastructure and equipment |  | 520 years     
|                                         | 
|Office equipment and other               |  | 315 years     

Depreciation methods, useful lives and residual values are reviewed annually.

In the fourth quarter of the year 2013, as part of the annual review of the estimated useful lives, the Company concluded that certain of our
existing assets are used longer than originally anticipated. The estimated useful lives of certain of our property, plant and equipment have, therefore, been extended. This change was



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##### Table of Contents

accounted for as a change in accounting estimate on a prospective basis effective October 1, 2013 under IAS 8 Change in Accounting Estimates. In the fourth quarter of the year
2013, approximately 2 million lower depreciation expenses were recorded as a result of the changes in the estimated useful lives of certain of our property, plant and equipment. On an annualised basis for the year 2013, the depreciation
charges would have been approximately 8 million lower.

Data center freehold land consists of the land owned by the Company.
The data center buildings consist of the core and shell in which we have constructed a data center. Data center infrastructure and equipment comprises of data center structures, leasehold improvements, data center cooling and power infrastructure,
including infrastructure for advanced environmental controls such as ventilation and air conditioning, specialized heating, fire detection and suppression equipment and monitoring equipment. Office equipment and other comprises of office leasehold
improvements and office equipment consisting of furniture, computer equipment and software.

Intangible assets

Intangible assets represent power grid rights, software and other intangible assets, and are recognized at cost less accumulated amortization
and accumulated impairment losses. Other intangible assets principally consist of lease premiums (paid in addition to obtain rental contracts).

Software includes development expenditure, which is capitalized only if development costs can be measured reliably, the product or process is
technically and commercially feasible, future economic benefits are probable, and the Group intends to and has sufficient resources to complete development and to use the asset. The expenditure capitalized includes the cost of material, services and
direct labor costs that are directly attributable to preparing the asset for its intended use.

Amortization is calculated on a
straight-line basis over the estimated useful lives of the intangible asset. Amortization methods, useful lives and residual values are reviewed annually.



|                                |  |            
|------------------------------- |  | -----------
|The estimated useful lives are: |  |            
|                                | 
|Power grid rights               |  | 1015 years
|                                | 
|Software                        |  | 35 years  
|                                | 
|Other                           |  | 312 years 

Impairment of non-financial assets

The carrying amounts of the Groups non-financial assets, other than deferred tax assets, are reviewed at each reporting date to determine
whether there is any indication of impairment. If any such indication exists, then the assets recoverable amount is estimated. For intangible assets that are not yet available for use, the recoverable amount is estimated at each reporting
date.

The recoverable amount of an asset or cash-generating unit is the greater of either its value in use or its fair value less costs
to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. For the
purpose of impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the
cash-generating unit).

Considering the Company manages its data centers by country, and, given the data center campus
structures, the financial performance of data centers within a country is highly inter-dependent, the Company has determined that the cash-generating unit for impairment-testing purposes should be the group of data centers per country, unless
specific circumstances would indicate that a single data center is a cash-generating unit.

An impairment loss is recognized if the
carrying amount of an asset or its cash-generating unit exceeds its estimated recoverable amount. Impairment losses are recognized in profit or loss. Impairment losses recognized in respect of cash-generating units are to reduce the carrying amount
of the assets in the unit (group of units) on a pro-rata basis.

Impairment losses recognized in prior periods are assessed at each
reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates



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used to determine the recoverable amount. An impairment loss is reversed only to the extent that the assets carrying amount does not exceed the carrying amount that would have been
determined, net of depreciation or amortization, if no impairment loss had been recognized.

Borrowings

Borrowings are recognized initially at fair value, net of transaction costs incurred. Borrowings are subsequently stated at amortized cost;
with any difference between the proceeds (net of transaction costs) and the redemption value recognized in the income statement over the period of the borrowings using the effective interest method.

Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least
12 months after the balance sheet date. The Group de-recognizes a borrowing when its contractual obligations are discharged, cancelled or expired.

As part of the initial measurement of the amortized costs value of the Senior Secured Notes due 2020 it is assumed that the Notes will be held
to maturity. If an early redemption of all or part of the Notes is expected the liability will be re-measured based on the original effective interest rate. The difference between the liability, excluding a change in assumed early redemption and the
liability, including a change in assumed early redemption, will go through the profit and loss.

Provisions

A provision is recognized in the statement of financial position when the Group has a present legal or constructive obligation as a result of a
past event; it is probable that an outflow of economic benefits will be required to settle the obligation and the amount can be estimated reliably. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that
reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability. The discount rate arising on the provision is amortized in future years through interest.

A provision for site restoration is recognized when costs for restoring leasehold premises to their original condition at the end of the lease
need to be made are probable to be incurred and it is possible to make an accurate estimate of these costs. The discounted cost of the liability is included in the related assets and is depreciated over the remaining estimated term of the lease. If
the likelihood of this liability is estimated to be possible, rather than probable, it is disclosed as a contingent liability in Note 24.

A provision for onerous lease contracts is recognized when the expected benefits to be derived by the Group from a contract are lower than the
unavoidable cost of meeting its obligations under the contract. The provision is measured at the discounted amount of future losses expected to be incurred in respect of unused data center sites over the term of the leases. Where unused sites have
been sublet or partly sublet, management has taken account of the contracted sublease income expected to be received over the minimum sublease term, which meets the Groups revenue recognition criteria in arriving at the amount of future
losses. Before a provision is established, the Group recognizes any impairment loss on the assets associated with that contract.

Leases

Leases, in which the Group assumes substantially all the risks and rewards of ownership, are classified as finance leases. On initial
recognition, the leased asset is measured at an amount equal to the lower of either its fair value or the present value of the minimum lease payments. Subsequent to initial recognition, the asset is accounted for in accordance with the accounting
policy applicable to that asset.

Other leases are operating leases and the leased assets are not recognized on the Groups statement
of financial position. Payments made under operating leases are recognized in the income statement, or capitalized during construction, on a straight-line basis over the term of the lease. Lease incentives received are recognized as an integral part
of the total lease expense, over the term of the lease.

Minimum finance lease payments are apportioned between the finance charge and the
reduction of the outstanding liability. The finance charge is allocated to each period during the lease term so as to produce a constant periodic rate of interest on the remaining balance of the liability.



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At inception or modification of an arrangement, the Group determines whether such an arrangement
is, or contains, a lease. This will be the case if the following two criteria are met:



| |  |  | the fulfilment of the arrangement is dependent on the use of a specific asset or assets; and
| | - |  | --------------------------------------------------------------------------------------------



| |  |  | the arrangement contains the right to use an asset.
| | - |  | ---------------------------------------------------

At inception or on reassessment of the
arrangement, the Group separates payments and other consideration required by such an arrangement into those for the lease and those for other elements on the basis of their relative fair values.

Segment reporting

The segments are
reported in a manner consistent with internal reporting provided to the chief operating decision-maker, identified as the Board of Directors. There are two segments: the first segment is France, Germany, The Netherlands and the United
Kingdom, the second segment is Rest of Europe, which comprises Austria, Belgium, Denmark, Ireland, Spain, Sweden and Switzerland. Shared expenses such as corporate management, general and administrative expenses, loans and borrowings and
related expenses and income tax assets and liabilities are stated in Corporate and other.

Segment results, assets and liabilities
include items directly attributable to a segment as well as those that can be allocated on a reasonable basis. Unallocated items presented as Corporate and other principally comprise loans and borrowings and related expenses; corporate assets
and expenses (primarily the Companys headquarters); and income tax assets and liabilities.

Segment capital expenditure is defined
as the net cash outflow during the period to acquire property, plant and equipment, and intangible assets other than goodwill.

EBITDA and
Adjusted EBITDA, as well as recurring revenue, are additional indicators of our operating performance, and are not required by or presented in accordance with, IFRS. EBITDA is defined as operating profit plus depreciation, amortization and
impairment of assets. We define Adjusted EBITDA as EBITDA adjusted to exclude share-based payments, increase/decrease in provision for onerous lease contracts, transaction costs and income from subleases on unused data center sites. We present
EBITDA and Adjusted EBITDA as additional information because we understand that they are measures used by certain investors and because they are used in our financial covenants in our 100 million Revolving Facility Agreement and
475 million 6.00% Senior Secured Notes due 2020. Other companies may, however, present EBITDA and Adjusted EBITDA differently. EBITDA and Adjusted EBITDA are not measures of financial performance under IFRS and should not be considered as
an alternative to operating profit or as a measure of liquidity or an alternative to net income as indicators of our operating performance or any other measure of performance derived in accordance with IFRS

This information, provided to the chief operating decision-maker, is disclosed to permit a more complete analysis of our operating
performance. Exceptional items are those significant items that are separately disclosed by virtue of their size, nature or incidence to enable a full understanding of the Groups financial performance.

Revenue recognition

Revenue is
recognized when it is probable that future economic benefits will flow to the Group and that these benefits, together with their related costs, can be measured reliably. Revenue is measured at the fair value of the consideration received or
receivable taking into account any discounts or volume rebates.

The Group reviews transactions for separately identifiable components
and, if necessary, applies individual recognition treatment, revenues are allocated to separately identifiable components based on their relative fair values.

The Group earns colocation revenue as a result of providing data center services to customers at its data centers. Colocation revenue and
lease income are recognized in profit or loss on a straight-line basis over the term of the customer contract. Incentives granted are recognized as an integral part of the total income, over the term of the customer contract. Customers are usually
invoiced quarterly in advance and income is recognized on a straight-line basis over the quarter. Initial setup fees payable at the beginning of customer contracts are deferred at inception and recognized in the income statement on a straight-line
basis over the initial term of the customer contract. Power revenue is recognized based on customers usage.



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##### Table of Contents

Other services revenue, including managed services, connectivity and customer installation
services including equipment sales are recognized when the services are rendered. Certain installation services and equipment sales, which by their nature have a non-recurring character, are presented as non-recurring revenues and are recognized on
delivery of service.

Deferred revenues relating to invoicing in advance and initial setup fees are carried on the statement of financial
position as part of trade payables and other liabilities. Deferred revenues due to be recognized after more than one year are held in non-current liabilities.

Cost of sales

Cost of sales consists
mainly of rental costs for the data centers and offices, power costs, maintenance costs relating to the data center equipment, operation and support personnel costs and costs related to installations and other customer requirements. In general,
maintenance and repairs are expensed as incurred. In cases where maintenance contracts are in place, the costs are recorded on a straight-line basis over the contractual period.

Sales and marketing costs

The operating
expenses related to sales and marketing consist of costs for personnel (including sales commissions), marketing and other costs directly related to the sales process. Costs of advertising and promotion are expensed as incurred.

General and administrative costs

General
and administrative costs are expensed as incurred.

Employee benefits

Defined contribution pension plans

A
defined contribution pension plan is a post-employment plan under which an entity pays fixed contributions into a separate entity and has no legal or constructive obligation to pay further amounts. Obligations for contributions to defined
contribution plans are recognized as an employee benefit expense in the income statement in the periods during which the related services are rendered by employees. Prepaid contributions are recognized as an asset to the extent that a cash refund or
a reduction in future payments is available. Contributions to a defined contribution plan that are due more than 12 months after the end of the period in which the employees render the service are discounted to their present value.

Termination benefits

Termination
benefits are recognized as an expense when the Group is demonstrably committed, without realistic possibility of withdrawal, to a formal detailed plan to either terminate employment before the normal retirement date, or to provide termination
benefits as a result of an offer made to encourage voluntary redundancy. Termination benefits for voluntary redundancy are recognized as an expense if the Group has made an offer of voluntary redundancy, it is probable that the offer will be
accepted, and the number of acceptances can be estimated reliably. If benefits are payable more than 12 months after the reporting date, they are discounted to their present value.

Share-based payments

The long-term
incentive programme enables Group employees to earn and/or acquire shares of the Group. The fair value at the date of grant to employees of share options, as determined using the Black Scholes model for options and the Monte Carlo model for the
performance shares, is recognized as an employee expense, with a corresponding increase in equity, over the period that the employees become unconditionally entitled to the options and/or shares. The amount recognized as an expense is adjusted to
reflect the actual number of share options, restricted and performance shares that vest.



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##### Table of Contents

Finance income and expense

Finance expense comprises interest payable on borrowings calculated using the effective interest rate method, fair value losses on financial
assets at fair value through profit and loss and foreign exchange gains and losses. Borrowing costs directly attributable to the acquisition or construction of data center assets, which are assets that necessarily take a substantial period of time
to get ready for their intended use, are added to the costs of those assets, until such time as the assets are ready for their intended use.

Interest income is recognized in the income statement as it accrues, using the effective interest method. The interest expense component of
finance lease payments is recognized in the income statement using the effective interest rate method.

Foreign currency gains and losses
are reported on a net basis, as either finance income or expenses, depending on whether the foreign currency movements are in a net gain or a net loss position.

Income tax

Income tax on the profit or
loss for the year comprises current and deferred tax. Income tax is recognized in the income statement except to the extent that it relates to items recognized directly in equity, in which case it is recognized in equity.

Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantially enacted at the balance
sheet date, and any adjustment to tax payable in respect of previous years.

Deferred tax is recognized in respect of temporary
differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: the initial recognition of assets or liabilities
that affect neither accounting nor taxable profit, and differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected
manner of realization or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the balance sheet date that are expected to be applied to temporary differences when they reverse or loss carry
forwards when they are utilized.

A deferred tax asset is also recognized for unused tax losses and tax credits. A deferred tax asset is
recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilized. Deferred tax assets are reduced to the extent that it is no longer probable that the related tax benefit will be
realized.

Additional income taxes that arise from the distribution of dividends are recognized at the same time as the liability to pay
the related dividend.

In determining the amount of current and deferred tax the Company takes into account the impact of uncertain tax
positions and whether additional taxes and interest may be due. The Company believes that its accruals for tax liabilities are adequate for all open tax years based on its assessment of many factors, including interpretations of tax law and prior
experience. This assessment relies on estimates and assumptions and may involve a series of judgments about future events. New information may become available that causes the Company to change its judgment regarding the adequacy of existing tax
liabilities; such changes to tax liabilities will have an impact on tax expense in the period that such a determination is made.

Deferred
tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they
intend to settle current tax liabilities and assets on a net basis of their tax assets and liabilities will be realized simultaneously.

Earnings per
share

The Group presents basic and diluted earnings per share (EPS) data for its ordinary shares. Basic EPS is calculated by dividing
the profit or loss attributable to ordinary and preference shareholders of the Company by the weighted average number of ordinary shares outstanding during the year. Diluted EPS is determined by adjusting the profit or loss attributable to ordinary
shareholders and the weighted average number of ordinary outstanding for the effects of all dilutive potential ordinary shares, which comprise the share options granted.



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##### Table of Contents

New standards and interpretations not yet adopted

The following listed new standards, amendments to standards and interpretations are available for early adoption in annual period beginning on
January 1, 2014, although they are not mandatory until a later period. The Group has decided not to early adopt these new standards or amendments.



|                |  |                                                                                                        
|--------------- |  | -------------------------------------------------------------------------------------------------------
|Effective date  |  | New standard or amendments                                                                             
|                | 
|January 1, 2016 |  | IFRS 14  Regulatory deferral accounts;                                                                
|                | 
|                |  | Amendments to IFRS 11  Accounting for acquisitions of interests in Joint Operations                   
|                | 
|                |  | Amendments to IAS 16 and IAS 38  Clarification of acceptable methods of depreciation and amortization;
|                | 
|January 1, 2017 |  | IFRS 15  Revenue from contracts with customers;                                                       
|                | 
|January 1, 2018 |  | IFRS 9  Financial instruments.                                                                        



|4 | Financial risk management
|- | -------------------------

Overview

The Group has exposure to the following risks from its use of financial instruments:



| |  |  | Credit risk
| | - |  | -----------



| |  |  | Liquidity risk
| | - |  | --------------



| |  |  | Market risk
| | - |  | -----------



| |  |  | Other price risks
| | - |  | -----------------

This note presents information about the Groups exposure to each of
the above risks, the Groups goals, policies and processes for measuring and managing risk, and the its management of capital. Further quantitative disclosures are included throughout these consolidated financial statements.

The Board of Directors has overall responsibility for the oversight of the Groups risk management framework.

The Group continues developing and evaluating the Groups risk management policies with a view to identifying and analyzing the risks
faces, to setting appropriate risk limits and controls, and to monitoring risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Groups activities. The Group,
through its training and management standards and procedures, aims to develop a disciplined and constructive control environment in which all employees understand their roles and obligations.

The Board of Directors oversees the way management monitors compliance with the Groups risk management policies and procedures and
reviews the adequacy of the risk management framework in relation to the risks the Group faces.

Credit risk

Credit risk is the risk of financial loss to the Group if a customer, bank or other counterparty to a financial instrument fails to meet its
contractual obligations. This risk principally arises from the Groups receivables from customers. The Groups most significant customer, serviced from multiple locations and under multiple service contracts, accounts for less than 10% of
the recurring revenues for 2014, 2013 and 2012.



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##### Table of Contents

Trade and other receivables

The Groups exposure to credit risk is mainly influenced by the individual characteristics of each customer. The demographics of the
Groups customer base, including the default risk of the industry and the country in which customers operate, has less of an influence on credit risk.

The Group has an established credit policy under which each new customer is analyzed individually for creditworthiness before it begins to
trade with the Group. If customers are independently rated, these ratings are used. If, there is no independent rating, the credit quality of the customer is analyzed taking its financial position, past experience and other factors into account.

The Groups standard terms require contracted services to be paid in advance of these services being delivered. Next to the standard
terms the Group provided service fee holidays in relation to our long-term customer contracts, for which an accrued revenue balance is accounted for. In the event that a customer fails to pay amounts that are due, the Group has a clearly defined
escalation policy that can result in a customers access to their equipment being denied or service to the customer being suspended.

In 2014, 94% (2013: 95% and 2012: 94%) of the Groups revenue was derived from contracts under which customers paid an agreed contracted
amount, including power on a regular basis (usually monthly or quarterly) or from deferred initial setup fees paid at the outset of the customer contract.

As a result of the Groups credit policy and the contracted nature of the revenues, losses have occurred infrequently (see Note 20). The
Group establishes an allowance that represents its estimate of potential incurred losses in respect of trade and other receivables. This allowance is entirely composed of a specific loss component relating to individually significant exposures.

Bank counterparties

The Group has
certain obligations under the terms of its revolving loan agreement and Senior Secured Notes which limit disposal with surplus cash balances. Term risk is limited to short-term deposits. The Group monitors its cash position, including counterparty
and term risk, daily.

Guarantees

Certain of our subsidiaries have granted guarantees to our lending banks in relation to our facilities. The Company grants rent guarantees to
landlords of certain of the Groups property leases (see Note 24).

Liquidity risk

Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Groups approach to
managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the its
reputation or jeopardizing its future.

The majority of the Groups revenues and operating costs are contracted, which assists it in
monitoring cash flow requirements, which is done on a daily and weekly basis. Typically, the Group ensures that it has sufficient cash on demand to meet expected normal operational expenses, including the servicing of financial obligations, for a
period of 60 days; this excludes the potential impact of extreme circumstances, such as natural disasters, that cannot reasonably be predicted.

All significant capital expansion projects are subject to formal approval by the Board of Directors, and material expenditure or customer
commitments are only made once the management is satisfied that the Group has adequate committed funding to cover the anticipated expenditure (see Note 22).

Senior Secured Notes

On July 3,
2013, the Company issued an aggregate principal amount of 325 million 6.00% Senior Secured Notes due 2020 (the Senior Secured Notes due 2020). The net proceeds of the offering were used to purchase all of the
260 million Senior Secured Notes due 2017, which were tendered in the offer for those notes and to redeem the 260 million Senior Secured Notes due 2017 which remained outstanding following the expiration and settlement of the
tender offer and consent solicitation, to pay all related fees, expenses and premiums and for other general corporate purposes.



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##### Table of Contents

The Senior Secured Notes due 2020 are governed by an indenture dated July 3, 2013, between
the Company, as issuer, and The Bank of New York Mellon, London Branch as Trustee. The indenture contains customary restrictive covenants, including but not limited to limitations or restrictions on our ability to incur debt, grant liens, make
restricted payments and sell assets. The restrictive covenants are subject to customary exceptions and are governed by a consolidated fixed charge ratio (Adjusted EBITDA to Finance Charges) to exceed 2.00 and a consolidated senior leverage ratio
(Total Net Debt to Pro-forma EBITDA) not to exceed 4.00. In addition, the aggregate of any outstanding debt senior to our Senior Secured Notes should not exceed 100 million.

The obligations under the Senior Secured Notes due 2020 are guaranteed by certain of the Companys subsidiaries.

On April 29, 2014, the Company completed the issuance of 150.0 million aggregate principal amount of 6.00% Senior Secured
Notes due 2020 (the Additional Notes). The net proceeds of the offering amount to 157.9 million, net of offering fees and expenses of 2.3 million. The net proceeds reflect the issuance of the Additional Notes at a
premium at 106.75 and net of offering fees and expenses. The Additional Notes, which are guaranteed by certain subsidiaries of the Company, were issued under the indenture pursuant to which, on July 3, 2013, the Company issued
325.0 million in aggregate principal amount of 6.00% Senior Secured Notes due 2020.

Senior Secured Facility

On April 14, 2014, the Company entered into a senior secured facility agreement (the Senior Secured Facility Agreement)
between, among others, the Issuer, Barclays Bank PLC and ABN AMRO Bank N.V. as lenders and Barclays Bank PLC as agent (the Agent) and security trustee, pursuant to which a 100.0 million senior secured term facility (the
Senior Secured Facility) was made available to the Company.

Following the successful closing of the offering of Additional
Notes (as defined and described in the preceding paragraph), the Company terminated the 100.0 million Senior Secured Facility Agreement. No amounts had been drawn under the Senior Secured Facility Agreement. However, the deferred
financing fees amounting to 0.6 million were written off in April 2014 in connection with the termination of the Secured Senior Facility Agreement.

Revolving Facility

On June 17,
2013, the Company entered into a new 100 million Revolving Facility Agreement with ABN AMRO Bank N.V., Barclays Bank PLC, Citigroup Global Markets Limited, Credit Suisse AG, Banc of America Securities Limited, as arrangers, the lenders
thereunder, Barclays Bank PLC, as agent and Barclays Bank PLC as security trustee. This new 100 million Revolving Facility Agreement replaced the 60 million revolving facility agreement.

On July 3, 2013, in connection with the issuance of the 325 million Senior Secured Notes due 2020, all conditions precedent to
the utilization of this Revolving Facility Agreement were satisfied.

On July 28, 2014, Interxion Holding N.V. received consent from
the lenders under its 100 million revolving facility to decrease the net assets guarantor coverage from 70% to 65% for a one-year period with effect from June 30, 2014. The Company has not been in breach of any covenants during the
year.

As of December 2014, following the addition of Interxion Österreich GmbH as obligor to the group of guarantors, the net assets
guarantor coverage exceeded 70%.

The net asset guarantor coverage is calculated as the aggregate net assets of the guarantors under the
revolving facility (calculated on an unconsolidated basis and excluding all intragroup items and investments in subsidiaries of any member of the Group) to consolidated net assets of the Group.

The Revolving Facility Agreement also requires the Company to maintain a specified financial ratio. The restrictive covenants are subject to
customary exceptions including, in relation to the incurrence of additional



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##### Table of Contents

debt, a consolidated fixed charge ratio (calculated as a ratio of adjusted EBITDA to consolidated interest expense) to exceed 2.00 to 1.00 on a pro forma basis for the four full fiscal quarters
(taken as one period) for which financial statements are available immediately preceding the incurrence of such debt and, if such debt is senior debt, a consolidated senior leverage ratio (calculated as a ratio of outstanding senior debt net of cash
and cash equivalents of the Company and its restricted subsidiaries (on a consolidated basis) to pro forma adjusted EBITDA) to be less than 4.00 to 1.00 on a pro forma basis for the four full fiscal quarters (taken as one period) for which financial
statements are available immediately preceding the incurrence of such debt.

The Revolving Facility Agreement also includes a leverage
ratio financial covenant (tested on a quarterly basis) requiring total net debt (calculated as a ratio to pro forma EBITDA) not to exceed a leverage ratio of 4.00 to 1.00. In addition, the Company must ensure, under the Revolving Facility Agreement,
that the guarantors represent a certain percentage of adjusted EBITDA of the Group as a whole and a certain percentage of the consolidated net assets of the Group as a whole. Our ability to meet these covenants may be affected by events beyond our
control and, as a result, we cannot assure you that we will be able to meet the covenants. In the event of a default under the Revolving Facility Agreement, the lenders could terminate their commitments and declare all amounts owed to them to be due
and payable. Borrowings under other debt instruments that contain cross acceleration or cross default provisions, including the Senior Secured Notes, may as a result also be accelerated and become due and payable.

The breach of any of these covenants by the Company or the failure by the Company to maintain its leverage ratio could result in a default
under the Revolving Facility Agreement. As of December 31, 2014, the Company was in compliance with all covenants in the Revolving Facility Agreement. In addition, the Company does not anticipate any such breach or failure and believes that its
ability to borrow funds under the Revolving Facility Agreement will not be adversely affected by the covenants in the next 12 months.

As
at December 31, 2014, the revolving facility agreement remained undrawn. The Companys consolidated fixed charge ratio stood at 4.36 and the net debt ratio / consolidated senior leverage ratio stood at 3.24.

Mortgages

On November 5, 2012, the
Company secured a five-year mortgage bank loan of 10 million, which is secured by mortgages on the AMS6 property, owned by Interxion Real Estate IV B.V. The loan is subject to a floating interest rate of EURIBOR plus an individual margin
of 275 basis points. Interest is due quarterly in arrears. No financial covenants apply to this loan next to the repayment schedule.

On
January 18, 2013, the Group completed two mortgage financings totaling 10 million. The loans are secured by mortgages on the PAR3 land, owned by Interxion Real Estate II Sarl and the PAR5 land, owned by Interxion Real Estate III Sarl,
pledges on the lease agreements, and are guaranteed by Interxion France SAS. The principal amounts on the two loans are to be repaid in quarterly instalments in an aggregate amount of 167,000 commencing on April 18, 2013. The mortgages
have a maturity of fifteen years and have a variable interest rate based on EURIBOR plus an individual margin ranging from 240 to 280 basis points. The interest rates have been fixed through an interest rate swap for 75% of the principal outstanding
amount for a period of ten years. No financial covenants apply to this loan next to the repayment schedule.

On June 26, 2013, the
Group completed a 6 million mortgage financing. The loan is secured by a mortgage on the AMS3 property, owned by Interxion Real Estate V B.V. and a pledge on the lease agreement. The principal is to be repaid in annual instalments of
400,000 commencing May 1, 2014 and a final repayment of 4,400,000 due on May 1, 2018. The mortgage has a variable interest rate based on EURIBOR plus 275 basis points. The loan contains a minimum of 1.1 debt service capacity
covenant ratio based on the operations of Interxion Real Estate V B.V.

On April 1, 2014, the Group completed a
9.2 million mortgage financing. The facility is secured by a mortgage on the data center property in Belgium, which was acquired by Interxion Real Estate IX N.V. on January 9, 2014, a pledge on the lease agreement, and is guaranteed
by Interxion Real Estate Holding B.V. The facility has a maturity of fifteen years and has a variable interest rate based on EURIBOR plus 200 basis points. The principal amount is to be repaid in 59 quarterly instalments of 153,330 of which
the first quarterly instalment was paid on July 31, 2014 and a final repayment of 153,330 is due on April 30, 2029. No financial covenants apply to this loan next to the repayment schedule.

Further details are in the Borrowing section (see Note 19).



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Market risk

Currency risk

The Group is exposed to
currency risk on sales, purchases and borrowings that are denominated in a currency other than the respective functional currencies of Group entities, primarily the euro, but also pounds sterling (GBP), Swiss francs (CHF), Danish kroner (DKK) and
Swedish kronor (SEK). The currencies in which these transactions are primarily denominated are EUR, GBP, CHF, DKK, SEK and USD.

Historically, the revenues and operating costs of each of the Groups entities have provided an economic hedge against foreign currency
exposure and have not required foreign currency hedging.

It is anticipated that a number of capital expansion projects will be funded in
a currency that is not the functional currency of the entity in which the associated expenditure will be incurred. In the event that this occurs and is material to the Group, the Group will seek to implement an appropriate hedging strategy.

The majority of the Groups borrowings are euro denominated and the Company believes that the Interest on these borrowings will be
serviced from the cash flows generated by the underlying operations of the Group, the functional currency of which is the euro. The Groups investments in subsidiaries are not hedged.

Interest rate risk

Following the issue
of 6.00% Senior Secured Notes due 2020, the Group is not exposed to significant variable interest rate expense for borrowings.

On
November 5, 2012, the Company secured a five-year mortgage 10 million on the AMS6 data center property. The loan is subject to a floating interest rate of EURIBOR plus an individual margin of 275 basis points per annum. Interest is
due quarterly in arrears.

On January 18, 2013, the Group completed two mortgage financings totaling 10 million. The loans are
secured by mortgages, on the PAR3 land owned by Interxion Real Estate II Sarl, and the PAR5 land owned by Interxion Real Estate III Sarl, pledges on the lease agreements, and are guaranteed by Interxion France SAS. The mortgages have a maturity of
fifteen years and have a variable interest rate based on EURIBOR plus an individual margin ranging from 240 to 280 basis points. The interest rates have been fixed through an interest rate swap for 75% of the principal outstanding amount for a
period of 10 years.

On June 26, 2013, the Group completed a 6 million mortgage financing. The loan is secured by a
mortgage on the AMS3 property owned by Interxion Real Estate V B.V. and a pledge on the lease agreement. The mortgage loan has a variable interest rate based on EURIBOR plus 275 basis points.

On April 1, 2014, the Group completed a 9.2 million mortgage financing. The facility is secured by a mortgage on the data
center property in Zaventem (Belgium), which was acquired by Interxion Real Estate IX N.V. on 9 January 2014, a pledge on the lease agreement, and is guaranteed by Interxion Real Estate Holding B.V. The mortgage loan has a variable interest
rate based on EURIBOR plus 200 basis points.

As at December 31, 2014, on the Revolving Facility Agreement the interest payable on
EUR amounts drawn would be at the rate of EURIBOR plus 350 basis points and for GBP amounts drawn the interest payable would be LIBOR plus 350 basis points. The Revolving Facility Agreement was fully undrawn as at December 31, 2014.

Further details are in the Financial Instruments section (see Note 20).

Other risks

Price risk

There is a risk that changes in market circumstances, such as strong unanticipated increases in operational costs, construction of new data
centers or churn in customer contracts, will negatively affect the Groups income. Customers individually have medium-term contracts that require notice prior to termination. The objective of market risk management is to manage and control
market risk exposures within acceptable parameters, while optimizing the return.

The Group is a significant user of power and has
exposure to increases in power prices. It uses independent consultants to monitor price changes in electricity and seeks to negotiate fixed-price term agreements with the power supply companies, not more than for own use, where possible. The risk to
the Group is mitigated by the contracted ability to recover power price increases through adjustments in the pricing for power services.



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##### Table of Contents

Capital management

The Group has a capital base comprising its equity, including reserves, Senior Secured Notes, mortgage loan, finance leases and committed debt
facilities. It monitors its solvency ratio, financial leverage, funds from operations and net debt with reference to multiples of its previous twelve months Adjusted EBITDA levels. The Companys policy is to maintain a strong capital base
and access to capital in order to sustain the future development of the business and maintain shareholders, creditors and customers confidence.

The principal use of capital in the development of the business is through capital expansion projects for the deployment of further equipped
space in new and existing data centers. Major capital expansion projects are not started unless the Company has access to adequate capital resources at the start of the project to complete the project, and they are evaluated against target internal
rates of return before approval. Capital expansion projects are continually monitored before and after completion.

There were no changes
in the Groups approach to capital management during the year.



|5 | Information by segment
|- | ----------------------

Operating segments are to be identified on the basis of internal
reports about components of the Group that are regularly reviewed by the chief operating decision maker in order to allocate resources to the segments and to assess their performance. Management monitors the operating results of its business units
separately for the purpose of making decisions about performance assessments.

The performance of the operating segments is primarily
based on the measures of revenue, EBITDA and Adjusted EBITDA. Other information provided, except as noted below, to the Board of Directors is measured in a manner consistent with that in the financial statements.



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##### Table of Contents

Information by segment, 2014



|                                                   |  |                 |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|-------------------------------------------------- |  | --------------- | -------- | - | ------------- |  | ------- | -------- |  |  | ------------------ | - |  | ----- | ------- | - |  |  | --------- | -
|                                                   |  | FR, DE,NL andUK |          |   | Rest ofEurope |  |         | Subtotal |  |  | Corporateand other |   |  | Total |        
|                                                   |  | (000)         |         
|Recurring revenue                                  |  |                 | 200,603  |   |               |  | 118,581 |          |  |  | 319,184            |   |  |       |        |   |  |  | 319,184   |  
|Non-recurring revenue                              |  |                 | 13,608   |   |               |  | 7,832   |          |  |  | 21,440             |   |  |       |        |   |  |  | 21,440    |  
|Total revenue                                      |  |                 | 214,211  |   |               |  | 126,413 |          |  |  | 340,624            |   |  |       |        |   |  |  | 340,624   |  
|Cost of sales                                      |  |                 | (83,844  | ) |               |  | (47,947 | )        |  |  | (131,791           | ) |  |       | (7,284  | ) |  |  | (139,075  | )
|                                                   |  |                 |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|Gross profit/(loss)                                |  |                 | 130,367  |   |               |  | 78,466  |          |  |  | 208,833            |   |  |       | (7,284  | ) |  |  | 201,549   |  
|Other income                                       |  |                 | 271      |   |               |  |        |          |  |  | 271                |   |  |       |        |   |  |  | 271       |  
|Sales and marketing costs                          |  |                 | (7,599   | ) |               |  | (5,308  | )        |  |  | (12,907            | ) |  |       | (11,644 | ) |  |  | (24,551   | )
|General and administrative costs                   |  |                 | (50,001  | ) |               |  | (25,359 | )        |  |  | (75,360            | ) |  |       | (23,524 | ) |  |  | (98,884   | )
|                                                   |  |                 |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|Operating profit/(loss)                            |  |                 | 73,038   |   |               |  | 47,799  |          |  |  | 120,837            |   |  |       | (42,452 | ) |  |  | 78,385    |  
|Net finance expense                                |  |                 |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  | (27,876   | )
|                                                   |  |                 |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|Profit before taxation                             |  |                 |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  | 50,509    |  
|                                                   |  |                 |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|Total assets                                       |  |                 | 804,537  |   |               |  | 290,455 |          |  |  | 1,094,992          |   |  |       | 78,111  |   |  |  | 1,173,103 |  
|Total liabilities                                  |  |                 | 166,250  |   |               |  | 73,448  |          |  |  | 239,698            |   |  |       | 497,260 |   |  |  | 736,958   |  
|Capital expenditures, including intangible assets* |  |                 | (150,224 | ) |               |  | (60,436 | )        |  |  | (210,660           | ) |  |       | (5,617  | ) |  |  | (216,277  | )
|Depreciation, amortization and impairments         |  |                 | 40,129   |   |               |  | 18,514  |          |  |  | 58,643             |   |  |       | 3,534   |   |  |  | 62,177    |  
|Adjusted EBITDA                                    |  |                 | 113,409  |   |               |  | 67,273  |          |  |  | 180,682            |   |  |       | (34,295 | ) |  |  | 146,387   |  
|                                                   |  |                 |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  



Note:



|* | Capital expenditures, including intangible assets, represent payments to acquire property, plant and equipment and intangible assets, as recorded in the consolidated statement of cash flows as Purchase of
property, plant and equipment and Purchase of intangible assets respectively.
|- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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##### Table of Contents

Information by segment, 2013



|                                                   |  |                 |         |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |          |  
|-------------------------------------------------- |  | --------------- | ------- | - | ------------- |  | ------- | -------- |  |  | ------------------ | - |  | ----- | ------- | - |  |  | -------- | -
|                                                   |  | FR, DE,NL andUK |         |   | Rest ofEurope |  |         | Subtotal |  |  | Corporateand other |   |  | Total |        
|                                                   |  | (000)         |        
|Recurring revenue                                  |  |                 | 182,165 |   |               |  | 109,109 |          |  |  | 291,274            |   |  |       |        |   |  |  | 291,274  |  
|Non-recurring revenue                              |  |                 | 10,293  |   |               |  | 5,544   |          |  |  | 15,837             |   |  |       |        |   |  |  | 15,837   |  
|Total revenue                                      |  |                 | 192,458 |   |               |  | 114,653 |          |  |  | 307,111            |   |  |       |        |   |  |  | 307,111  |  
|Cost of sales                                      |  |                 | (71,944 | ) |               |  | (44,522 | )        |  |  | (116,466           | ) |  |       | (7,675  | ) |  |  | (124,141 | )
|                                                   |  |                 |         |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |          |  
|Gross profit/(loss)                                |  |                 | 120,514 |   |               |  | 70,131  |          |  |  | 190,645            |   |  |       | (7,675  | ) |  |  | 182,970  |  
|Other income                                       |  |                 | 341     |   |               |  |        |          |  |  | 341                |   |  |       |        |   |  |  | 341      |  
|Sales and marketing costs                          |  |                 | (7,200  | ) |               |  | (5,212  | )        |  |  | (12,412            | ) |  |       | (10,406 | ) |  |  | (22,818  | )
|General and administrative costs                   |  |                 | (47,074 | ) |               |  | (23,437 | )        |  |  | (70,511            | ) |  |       | (19,623 | ) |  |  | (90,134  | )
|                                                   |  |                 |         |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |          |  
|Operating profit/(loss)                            |  |                 | 66,581  |   |               |  | 41,482  |          |  |  | 108,063            |   |  |       | (37,704 | ) |  |  | 70,359   |  
|Net finance expense                                |  |                 |         |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  | (57,453  | )
|                                                   |  |                 |         |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |          |  
|Profit before taxation                             |  |                 |         |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  | 12,906   |  
|                                                   |  |                 |         |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |          |  
|Total assets                                       |  |                 | 619,356 |   |               |  | 223,274 |          |  |  | 842,630            |   |  |       | 68,145  |   |  |  | 910,775  |  
|Total liabilities                                  |  |                 | 148,884 |   |               |  | 39,708  |          |  |  | 188,592            |   |  |       | 334,281 |   |  |  | 522,873  |  
|Capital expenditures, including intangible assets* |  |                 | (93,676 | ) |               |  | (47,016 | )        |  |  | (140,692           | ) |  |       | (2,689  | ) |  |  | (143,381 | )
|Depreciation, amortization and impairments         |  |                 | (37,371 | ) |               |  | (17,269 | )        |  |  | (54,640            | ) |  |       | (3,030  | ) |  |  | (57,670  | )
|Adjusted EBITDA                                    |  |                 | 104,373 |   |               |  | 59,097  |          |  |  | 163,470            |   |  |       | (31,633 | ) |  |  | 131,837  |  
|                                                   |  |                 |         |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |          |  



Note:



|* | Capital expenditures, including intangible assets, represent payments to acquire property, plant and equipment and intangible assets, as recorded in the consolidated statement of cash flows as Purchase of
property, plant and equipment and Purchase of intangible assets respectively.
|- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



F-28



---

##### Table of Contents

Information by segment, 2012



|                                                   |  |                 |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |          |  
|-------------------------------------------------- |  | --------------- | -------- | - | ------------- |  | ------- | -------- |  |  | ------------------ | - |  | ----- | ------- | - |  |  | -------- | -
|                                                   |  | FR, DE,NL andUK |          |   | Rest ofEurope |  |         | Subtotal |  |  | Corporateand other |   |  | Total |        
|                                                   |  | (000)         |         
|Recurring revenue                                  |  |                 | 159,136  |   |               |  | 100,113 |          |  |  | 259,249            |   |  |       |        |   |  |  | 259,249  |  
|Non-recurring revenue                              |  |                 | 12,640   |   |               |  | 5,232   |          |  |  | 17,872             |   |  |       |        |   |  |  | 17,872   |  
|Total revenue                                      |  |                 | 171,776  |   |               |  | 105,345 |          |  |  | 277,121            |   |  |       |        |   |  |  | 277,121  |  
|Cost of sales                                      |  |                 | (66,367  | ) |               |  | (40,559 | )        |  |  | (106,926           | ) |  |       | (6,156  | ) |  |  | (113,082 | )
|                                                   |  |                 |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |          |  
|Gross profit/(loss)                                |  |                 | 105,409  |   |               |  | 64,786  |          |  |  | 170,195            |   |  |       | (6,156  | ) |  |  | 164,039  |  
|Other income                                       |  |                 | 463      |   |               |  |        |          |  |  | 463                |   |  |       |        |   |  |  | 463      |  
|Sales and marketing costs                          |  |                 | (6,039   | ) |               |  | (4,259  | )        |  |  | (10,298            | ) |  |       | (9,802  | ) |  |  | (20,100  | )
|General and administrative costs                   |  |                 | (36,497  | ) |               |  | (21,558 | )        |  |  | (58,055            | ) |  |       | (21,188 | ) |  |  | (79,243  | )
|                                                   |  |                 |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |          |  
|Operating profit/(loss)                            |  |                 | 63,336   |   |               |  | 38,969  |          |  |  | 102,305            |   |  |       | (37,146 | ) |  |  | 65,159   |  
|Net finance expense                                |  |                 |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  | (17,746  | )
|                                                   |  |                 |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |          |  
|Profit before taxation                             |  |                 |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  | 47,413   |  
|                                                   |  |                 |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |          |  
|Total assets                                       |  |                 | 546,842  |   |               |  | 197,802 |          |  |  | 744,644            |   |  |       | 74,580  |   |  |  | 819,224  |  
|Total liabilities                                  |  |                 | 139,576  |   |               |  | 48,183  |          |  |  | 187,759            |   |  |       | 255,891 |   |  |  | 443,650  |  
|Capital expenditures, including intangible assets* |  |                 | (145,080 | ) |               |  | (29,014 | )        |  |  | (174,094           | ) |  |       | (4,237  | ) |  |  | (178,331 | )
|Depreciation, amortization and impairments         |  |                 | (25,686  | ) |               |  | (15,691 | )        |  |  | (41,377            | ) |  |       | (2,616  | ) |  |  | (43,993  | )
|Adjusted EBITDA                                    |  |                 | 90,121   |   |               |  | 55,068  |          |  |  | 145,189            |   |  |       | (30,174 | ) |  |  | 115,015  |  
|                                                   |  |                 |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |          |  



Note:



|* | Capital expenditures, including intangible assets, represent payments to acquire property, plant and equipment and intangible assets, as recorded in the consolidated statement of cash flows as Purchase of
property, plant and equipment and Purchase of intangible assets respectively.
|- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



F-29



---

##### Table of Contents

Reconciliation Adjusted EBITDA

Consolidated



|                                                               |  |         |         |   |      |  |         |      |  |  |         |  
|-------------------------------------------------------------- |  | ------- | ------- | - | ---- |  | ------- | ---- |  |  | ------- | -
|                                                               |  | 2014    |         |   | 2013 |  |         | 2012 | 
|                                                               |  | (000) |        
|Profit for the year attributable to shareholders               |  |         | 35,060  |   |      |  | 6,824   |      |  |  | 31,631  |  
|Income tax expense                                             |  |         | 15,449  |   |      |  | 6,082   |      |  |  | 15,782  |  
|                                                               |  |         |         |   |      |  |         |      |  |  |         |  
|Profit before taxation                                         |  |         | 50,509  |   |      |  | 12,906  |      |  |  | 47,413  |  
|Finance income                                                 |  |         | (890    | ) |      |  | (484    | )    |  |  | (907    | )
|Finance expense                                                |  |         | 28,766  |   |      |  | 57,937  |      |  |  | 18,653  |  
|                                                               |  |         |         |   |      |  |         |      |  |  |         |  
|Operating profit                                               |  |         | 78,385  |   |      |  | 70,359  |      |  |  | 65,159  |  
|Depreciation, amortization and impairment                      |  |         | 62,177  |   |      |  | 57,670  |      |  |  | 43,993  |  
|                                                               |  |         |         |   |      |  |         |      |  |  |         |  
|EBITDA(1)                                                      |  |         | 140,562 |   |      |  | 128,029 |      |  |  | 109,152 |  
|Share-based payments                                           |  |         | 6,576   |   |      |  | 4,149   |      |  |  | 5,488   |  
|Increase/(decrease) in provision of onerous lease contracts(2) |  |         | (805    | ) |      |  |        |      |  |  | 838     |  
|M&A transaction costs                                          |  |         | 325     |   |      |  |        |      |  |  |        |  
|Income from sublease of unused data center sites               |  |         | (271    | ) |      |  | (341    | )    |  |  | (463    | )
|                                                               |  |         |         |   |      |  |         |      |  |  |         |  
|Adjusted EBITDA                                                |  |         | 146,387 |   |      |  | 131,837 |      |  |  | 115,015 |  
|                                                               |  |         |         |   |      |  |         |      |  |  |         |  

France, Germany, The Netherlands and UK



|                                                            |  |         |         |   |      |  |         |      |  |  |        |  
|----------------------------------------------------------- |  | ------- | ------- | - | ---- |  | ------- | ---- |  |  | ------ | -
|                                                            |  | 2014    |         |   | 2013 |  |         | 2012 | 
|                                                            |  | (000) |        
|Operating profit                                            |  |         | 73,038  |   |      |  | 66,581  |      |  |  | 63,336 |  
|Depreciation, amortization and impairment                   |  |         | 40,129  |   |      |  | 37,371  |      |  |  | 25,686 |  
|                                                            |  |         |         |   |      |  |         |      |  |  |        |  
|EBITDA(1)                                                   |  |         | 113,167 |   |      |  | 103,952 |      |  |  | 89,022 |  
|Share-based payments                                        |  |         | 1,318   |   |      |  | 762     |      |  |  | 724    |  
|Increase/(decrease) in provision onerous lease contracts(2) |  |         | (805    | ) |      |  |        |      |  |  | 838    |  
|Income from sublease of unused data center sites            |  |         | (271    | ) |      |  | (341    | )    |  |  | (463   | )
|                                                            |  |         |         |   |      |  |         |      |  |  |        |  
|Adjusted EBITDA                                             |  |         | 113,409 |   |      |  | 104,373 |      |  |  | 90,121 |  
|                                                            |  |         |         |   |      |  |         |      |  |  |        |  



Notes:



|(1) | Operating profit plus depreciation, amortization and impairment of assets.
|--- | --------------------------------------------------------------------------

|(2) | Before deduction of income from subleases on unused data center sites.
|--- | ----------------------------------------------------------------------



F-30



---

##### Table of Contents

Rest of Europe



|                                          |  |         |        |  |      |  |        |      |  |  |        | 
|----------------------------------------- |  | ------- | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                                          |  | 2014    |        |  | 2013 |  |        | 2012 | 
|                                          |  | (000) |       
|Operating profit                          |  |         | 47,799 |  |      |  | 41,482 |      |  |  | 38,969 | 
|Depreciation, amortization and impairment |  |         | 18,514 |  |      |  | 17,269 |      |  |  | 15,691 | 
|                                          |  |         |        |  |      |  |        |      |  |  |        | 
|EBITDA(1)                                 |  |         | 66,313 |  |      |  | 58,751 |      |  |  | 54,660 | 
|Share-based payments                      |  |         | 960    |  |      |  | 346    |      |  |  | 408    | 
|                                          |  |         |        |  |      |  |        |      |  |  |        | 
|Adjusted EBITDA                           |  |         | 67,273 |  |      |  | 59,097 |      |  |  | 55,068 | 
|                                          |  |         |        |  |      |  |        |      |  |  |        | 

Corporate and other



|                                          |  |         |         |   |      |  |         |      |  |  |         |  
|----------------------------------------- |  | ------- | ------- | - | ---- |  | ------- | ---- |  |  | ------- | -
|                                          |  | 2014    |         |   | 2013 |  |         | 2012 | 
|                                          |  | (000) |        
|Operating profit                          |  |         | (42,452 | ) |      |  | (37,704 | )    |  |  | (37,146 | )
|Depreciation, amortization and impairment |  |         | 3,534   |   |      |  | 3,030   |      |  |  | 2,616   |  
|                                          |  |         |         |   |      |  |         |      |  |  |         |  
|EBITDA(1)                                 |  |         | (38,918 | ) |      |  | (34,674 | )    |  |  | (34,530 | )
|Share-based payments                      |  |         | 4,298   |   |      |  | 3,041   |      |  |  | 4,356   |  
|M&A transaction costs                     |  |         | 325     |   |      |  |        |      |  |  |        |  
|                                          |  |         |         |   |      |  |         |      |  |  |         |  
|Adjusted EBITDA                           |  |         | (34,295 | ) |      |  | (31,633 | )    |  |  | (30,174 | )
|                                          |  |         |         |   |      |  |         |      |  |  |         |  



Notes:



|(1) | Operating profit plus depreciation, amortization and impairment of assets.
|--- | --------------------------------------------------------------------------

In 2014, the
share-based payments include an amount of 92,000 related to taxes and social security charges (2013: 559,000, 2012: 2,078,000).



|6 | Revenue
|- | -------

Revenue consists of colocation revenue derived from the rendering of data
center services, which includes customer installation services and equipment sales.



|7 | Employee benefit expenses
|- | -------------------------

The Group employed an average of 478 employees (full-time
equivalents) during 2014 (2013: 425 and 2012: 385). Costs incurred in respect of these employees were:



|                                                    |  |         |        |  |      |  |        |      |  |  |        | 
|--------------------------------------------------- |  | ------- | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                                                    |  | 2014    |        |  | 2013 |  |        | 2012 | 
|                                                    |  | (000) |       
|Salaries and bonuses                                |  |         | 36,489 |  |      |  | 32,369 |      |  |  | 30,229 | 
|Social security charges                             |  |         | 6,025  |  |      |  | 5,535  |      |  |  | 5,295  | 
|Contributions to defined contribution pension plans |  |         | 2,178  |  |      |  | 2,051  |      |  |  | 1,776  | 
|Other personnel-related costs                       |  |         | 7,355  |  |      |  | 8,309  |      |  |  | 5,233  | 
|Share-based payments                                |  |         | 6,576  |  |      |  | 4,149  |      |  |  | 5,488  | 
|                                                    |  |         |        |  |      |  |        |      |  |  |        | 
|                                                    |  |         | 58,623 |  |      |  | 52,413 |      |  |  | 48,021 | 
|                                                    |  |         |        |  |      |  |        |      |  |  |        | 



F-31



---

##### Table of Contents

The following income statement line items include employee benefit expenses of:



|                                 |  |         |        |  |      |  |        |      |  |  |        | 
|-------------------------------- |  | ------- | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                                 |  | 2014    |        |  | 2013 |  |        | 2012 | 
|                                 |  | (000) |       
|Costs of sales                   |  |         | 22,282 |  |      |  | 19,963 |      |  |  | 16,634 | 
|Sales and marketing costs        |  |         | 15,266 |  |      |  | 14,942 |      |  |  | 12,300 | 
|General and administrative costs |  |         | 21,075 |  |      |  | 17,508 |      |  |  | 19,087 | 
|                                 |  |         |        |  |      |  |        |      |  |  |        | 
|                                 |  |         | 58,623 |  |      |  | 52,413 |      |  |  | 48,021 | 
|                                 |  |         |        |  |      |  |        |      |  |  |        | 

The Group operates a defined contribution pension scheme for most of its employees. The contributions are made
in accordance with the scheme and are expensed in the income statement as incurred.

In 2013 and 2012, the Dutch Government imposed a
crisis wage tax payable by employers. The total charge in 2013, included in General and administrative costs, amounted to 417,000 (2012: 1,854,000). In 2014, this crisis wage tax was no longer applicable.



|8 | Finance income and expense
|- | --------------------------



|                                                               |  |         |         |   |      |  |         |      |  |  |         |  
|-------------------------------------------------------------- |  | ------- | ------- | - | ---- |  | ------- | ---- |  |  | ------- | -
|                                                               |  | 2014    |         |   | 2013 |  |         | 2012 | 
|                                                               |  | (000) |        
|Bank and other interest                                        |  |         | 496     |   |      |  | 484     |      |  |  | 907     |  
|Net foreign currency exchange gain                             |  |         | 394     |   |      |  |        |      |  |  |        |  
|                                                               |  |         |         |   |      |  |         |      |  |  |         |  
|Finance income                                                 |  |         | 890     |   |      |  | 484     |      |  |  | 907     |  
|                                                               |  |         |         |   |      |  |         |      |  |  |         |  
|Interest expense on Senior Secured Notes, bank and other loans |  |         | (23,783 | ) |      |  | (22,594 | )    |  |  | (16,680 | )
|Interest expense on finance leases                             |  |         | (2,314  | ) |      |  | (1,642  | )    |  |  | (61     | )
|Interest expense on provision for onerous lease contracts      |  |         | (230    | ) |      |  | (334    | )    |  |  | (428    | )
|Other financial expenses                                       |  |         | (2,439  | ) |      |  | (32,751 | )    |  |  | (1,221  | )
|Net foreign currency exchanges loss                            |  |         |        |   |      |  | (616    | )    |  |  | (263    | )
|                                                               |  |         |         |   |      |  |         |      |  |  |         |  
|Finance expense                                                |  |         | (28,766 | ) |      |  | (57,937 | )    |  |  | (18,653 | )
|                                                               |  |         |         |   |      |  |         |      |  |  |         |  
|Net finance expense                                            |  |         | (27,876 | ) |      |  | (57,453 | )    |  |  | (17,746 | )
|                                                               |  |         |         |   |      |  |         |      |  |  |         |  

In 2014, the Interest expense on Senior Secured Notes, bank and other loans increased principally
as result of the increased interest expenses related to the Additional Notes amounting to 150 million partly offset by higher capitalized borrowing costs.

In 2013, the Interest expense on Senior Secured Notes, bank and other loans increased principally as result of
7.5 million lower capitalized borrowing costs.

As a result of the refinancing completed on July 3, 2013, the Company
incurred costs, presented in Other financial expenses, of approximately 31 million of which 26.5 million in cash related to the tender and redemption premiums and consent fees for the 9.50% Senior Secured Notes due
2017 (the Senior Secured Notes due 2017) and 4.5 million non-cash expenses from the deferred financing costs related to the former 60 million Revolving Facility Agreement and the unamortized costs of the Senior
Secured Notes due 2017.

The Interest expense on provision for onerous lease contracts related to the unwinding of the
discount rate used to calculate the Provision for onerous lease contracts.



F-32



---

##### Table of Contents

|9 | Income taxes
|- | ------------

Income tax (expense)/benefit



|                                   |  |         |         |   |      |  |        |      |  |  |         |  
|---------------------------------- |  | ------- | ------- | - | ---- |  | ------ | ---- |  |  | ------- | -
|                                   |  | 2014    |         |   | 2013 |  |        | 2012 | 
|                                   |  | (000) |        
|Current taxes                      |  |         | (8,947  | ) |      |  | (7,888 | )    |  |  | (6,219  | )
|Deferred taxes                     |  |         | (6,502  | ) |      |  | 1,806  |      |  |  | (9,563  | )
|                                   |  |         |         |   |      |  |        |      |  |  |         |  
|Total income tax (expense)/benefit |  |         | (15,449 | ) |      |  | (6,082 | )    |  |  | (15,782 | )
|                                   |  |         |         |   |      |  |        |      |  |  |         |  

Reconciliation of effective tax rate

A reconciliation between income taxes calculated at the Dutch statutory tax rate of 25% in 2014 (25% in 2013 and 2012) and the actual tax
benefit/(expense) with an effective tax rate of 30.6% (47.1% in 2013 and 33.3% in 2012) is as follows:



|                                                                    |  |         |         |   |      |  |        |      |  |  |         |  
|------------------------------------------------------------------- |  | ------- | ------- | - | ---- |  | ------ | ---- |  |  | ------- | -
|                                                                    |  | 2014    |         |   | 2013 |  |        | 2012 | 
|                                                                    |  | (000) |        
|Profit for the year                                                 |  |         | 35,060  |   |      |  | 6,824  |      |  |  | 31,631  |  
|Income tax expense                                                  |  |         | (15,449 | ) |      |  | (6,082 | )    |  |  | (15,782 | )
|                                                                    |  |         |         |   |      |  |        |      |  |  |         |  
|Profit before taxation                                              |  |         | 50,509  |   |      |  | 12,906 |      |  |  | 47,413  |  
|                                                                    |  |         |         |   |      |  |        |      |  |  |         |  
|Income tax using Companys domestic tax rate                        |  |         | (12,627 | ) |      |  | (3,227 | )    |  |  | (11,854 | )
|Effect of tax rates in foreign jurisdictions                        |  |         | (1,033  | ) |      |  | (1,007 | )    |  |  | (1,308  | )
|Change in tax rate and legislation                                  |  |         | 355     |   |      |  | 305    |      |  |  | (1,042  | )
|Non-deductible expenses                                             |  |         | (1,617  | ) |      |  | (2,041 | )    |  |  | (1,372  | )
|Recognition of previously unrecognized tax losses                   |  |         |        |   |      |  |       |      |  |  | 355     |  
|Current year results for which no deferred tax asset was recognized |  |         |        |   |      |  | 25     |      |  |  | (328    | )
|Prior year adjustments included in current year tax                 |  |         | (25     | ) |      |  | 344    |      |  |  | 201     |  
|Other                                                               |  |         | (502    | ) |      |  | (481   | )    |  |  | (434    | )
|                                                                    |  |         |         |   |      |  |        |      |  |  |         |  
|Income tax expense                                                  |  |         | (15,449 | ) |      |  | (6,082 | )    |  |  | (15,782 | )
|                                                                    |  |         |         |   |      |  |        |      |  |  |         |  



F-33



---

##### Table of Contents

Recognized deferred tax assets/(liabilities)

The movement in recognized deferred tax assets during the year is as follows:



|                                       |  |                                            |        |   |                           |  |        |       |  |  |                       |   |  |       |        |   |  |  |         |  
|-------------------------------------- |  | ------------------------------------------ | ------ | - | ------------------------- |  | ------ | ----- |  |  | --------------------- | - |  | ----- | ------ | - |  |  | ------- | -
|                                       |  | Property,plant andequipment,andIntangibles |        |   | Provisiononerouscontracts |  |        | Other |  |  | Tax losscarry-forward |   |  | Total |       
|                                       |  | (000)                                    |       
|January 1, 2012                        |  |                                            | 14,748 |   |                           |  | 4,382  |       |  |  | 2,048                 |   |  |       | 26,480 |   |  |  | 47,658  |  
|Recognized in profit/(loss) for 2012   |  |                                            | 210    |   |                           |  | (743   | )     |  |  | 2,547                 |   |  |       | (8,013 | ) |  |  | (5,999  | )
|Recognized in equity                   |  |                                            |       |   |                           |  |       |       |  |  |                      |   |  |       | (571   | ) |  |  | (571    | )
|Effects of movements in exchange rates |  |                                            | 21     |   |                           |  |       |       |  |  | 5                     |   |  |       | 255    |   |  |  | 281     |  
|                                       |  |                                            |        |   |                           |  |        |       |  |  |                       |   |  |       |        |   |  |  |         |  
|                                       |  |                                            |        |   |                          
|December 31, 2012                      |  |                                            | 14,979 |   |                           |  | 3,639  |       |  |  | 4,600                 |   |  |       | 18,151 |   |  |  | 41,369  |  
|Recognized in profit/(loss) for 2013   |  |                                            | (990   | ) |                           |  | (1,022 | )     |  |  | 869                   |   |  |       | 5,924  |   |  |  | 4,781   |  
|Recognized in equity                   |  |                                            |       |   |                           |  |       |       |  |  |                      |   |  |       | 544    |   |  |  | 544     |  
|Effects of movements in exchange rates |  |                                            | 2      |   |                           |  |       |       |  |  |                      |   |  |       | (104   | ) |  |  | (102    | )
|                                       |  |                                            |        |   |                           |  |        |       |  |  |                       |   |  |       |        |   |  |  |         |  
|                                       |  |                                            |        |   |                          
|December 31, 2013                      |  |                                            | 13,991 |   |                           |  | 2,617  |       |  |  | 5,469                 |   |  |       | 24,515 |   |  |  | 46,592  |  
|Recognized in profit/(loss) for 2014   |  |                                            | (565   | ) |                           |  | (1,042 | )     |  |  | (2,130                | ) |  |       | (1,214 | ) |  |  | (4,951  | )
|Recognized in equity                   |  |                                            |       |   |                           |  |       |       |  |  |                      |   |  |       | (367   | ) |  |  | (367    | )
|Effects of movements in exchange rates |  |                                            | 2      |   |                           |  |       |       |  |  | 5                     |   |  |       | (22    | ) |  |  | (15     | )
|                                       |  |                                            |        |   |                           |  |        |       |  |  |                       |   |  |       |        |   |  |  |         |  
|December 31, 2014                      |  |                                            | 13,428 |   |                           |  | 1,575  |       |  |  | 3,344                 |   |  |       | 22,912 |   |  |  | 41,259  |  
|                                       |  |                                            |        |   |                           |  |        |       |  |  |                       |   |  |       |        |   |  |  |         |  
|Offset deferred tax liabilities        |  |                                            | (7,704 | ) |                           |  |       |       |  |  | (1,286                | ) |  |       | (2,205 | ) |  |  | (11,195 | )
|                                       |  |                                            |        |   |                           |  |        |       |  |  |                       |   |  |       |        |   |  |  |         |  
|Net deferred tax assets/(liabilities)  |  |                                            | 5,724  |   |                           |  | 1,575  |       |  |  | 2,058                 |   |  |       | 20,707 |   |  |  | 30,064  |  
|                                       |  |                                            |        |   |                           |  |        |       |  |  |                       |   |  |       |        |   |  |  |         |  



F-34



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##### Table of Contents

The movement in recognized deferred tax liabilities during the year is as follows:



|                                       |  |                                            |         |   |                           |  |   |       |  |  |                       |   |  |       |       |  |  |  |         |  
|-------------------------------------- |  | ------------------------------------------ | ------- | - | ------------------------- |  | - | ----- |  |  | --------------------- | - |  | ----- | ----- |  |  |  | ------- | -
|                                       |  | Property,plant andequipment,andIntangibles |         |   | Provisiononerouscontracts |  |   | Other |  |  | Tax losscarry-forward |   |  | Total |      
|                                       |  | (000)                                    |        
|January 1, 2012                        |  |                                            | (8,790  | ) |                           |  |  |       |  |  | (1,053                | ) |  |       |      |  |  |  | (9,843  | )
|Recognized in profit/(loss) for 2012   |  |                                            | (3,501  | ) |                           |  |  |       |  |  | (63                   | ) |  |       |      |  |  |  | (3,564  | )
|                                       |  |                                            |         |   |                           |  |   |       |  |  |                       |   |  |       |       |  |  |  |         |  
|                                       |  |                                            |         |   |                          
|December 31, 2012                      |  |                                            | (12,291 | ) |                           |  |  |       |  |  | (1,116                | ) |  |       |      |  |  |  | (13,407 | )
|Recognized in profit/(loss) for 2013   |  |                                            | (3,398  | ) |                           |  |  |       |  |  | 423                   |   |  |       |      |  |  |  | (2,975  | )
|Effects of movements in exchange rates |  |                                            | 89      |   |                           |  |  |       |  |  |                      |   |  |       |      |  |  |  | 89      |  
|                                       |  |                                            |         |   |                           |  |   |       |  |  |                       |   |  |       |       |  |  |  |         |  
|                                       |  |                                            |         |   |                          
|December 31, 2013                      |  |                                            | (15,600 | ) |                           |  |  |       |  |  | (693                  | ) |  |       |      |  |  |  | (16,293 | )
|Recognized in profit/(loss) for 2014   |  |                                            | (1,138  | ) |                           |  |  |       |  |  | (413                  | ) |  |       |      |  |  |  | (1,551  | )
|Effects of movements in exchange rates |  |                                            | (380    | ) |                           |  |  |       |  |  |                      |   |  |       |      |  |  |  | (380    | )
|                                       |  |                                            |         |   |                           |  |   |       |  |  |                       |   |  |       |       |  |  |  |         |  
|December 31, 2014                      |  |                                            | (17,118 | ) |                           |  |  |       |  |  | (1,106                | ) |  |       |      |  |  |  | (18,224 | )
|                                       |  |                                            |         |   |                           |  |   |       |  |  |                       |   |  |       |       |  |  |  |         |  
|Offset deferred tax assets             |  |                                            | 7,704   |   |                           |  |  |       |  |  | 1,286                 |   |  |       | 2,205 |  |  |  | 11,195  |  
|                                       |  |                                            |         |   |                           |  |   |       |  |  |                       |   |  |       |       |  |  |  |         |  
|Net deferred tax assets/(liabilities)  |  |                                            | (9,414  | ) |                           |  |  |       |  |  | 180                   |   |  |       | 2,205 |  |  |  | (7,029  | )
|                                       |  |                                            |         |   |                           |  |   |       |  |  |                       |   |  |       |       |  |  |  |         |  

The deferred tax assets and liabilities are presented as net amounts per tax jurisdiction as far as the
amounts can be offset.

The estimated utilization of carried-forward tax losses in future years is based on managements forecasts of
future profitability by tax jurisdiction.

The following net deferred tax assets have not been recognized:



|                                      |  |         |     |  |      |  |       |      |  |  |       | 
|------------------------------------- |  | ------- | --- |  | ---- |  | ----- | ---- |  |  | ----- | 
|                                      |  | 2014    |     |  | 2013 |  |       | 2012 | 
|                                      |  | (000) |    
|Deductible temporary differences, net |  |         | 39  |  |      |  | 117   |      |  |  | 46    | 
|Tax losses                            |  |         | 787 |  |      |  | 1,303 |      |  |  | 1,501 | 
|                                      |  |         |     |  |      |  |       |      |  |  |       | 
|                                      |  |         | 826 |  |      |  | 1,420 |      |  |  | 1,547 | 
|                                      |  |         |     |  |      |  |       |      |  |  |       | 

The accumulated recognized and unrecognized tax losses expire as follows:



|                      |  |         |         |  |      |  |         |      |  |  |        | 
|--------------------- |  | ------- | ------- |  | ---- |  | ------- | ---- |  |  | ------ | 
|                      |  | 2014    |         |  | 2013 |  |         | 2012 | 
|                      |  | (000) |        
|Within one year       |  |         |        |  |      |  | 3,159   |      |  |  | 3,798  | 
|Between 1 and 5 years |  |         | 7,000   |  |      |  | 4,949   |      |  |  | 7,057  | 
|After 5 years         |  |         | 32,318  |  |      |  | 24,775  |      |  |  | 5,918  | 
|Unlimited             |  |         | 67,397  |  |      |  | 79,754  |      |  |  | 69,403 | 
|                      |  |         |         |  |      |  |         |      |  |  |        | 
|                      |  |         | 106,715 |  |      |  | 112,637 |      |  |  | 86,176 | 
|                      |  |         |         |  |      |  |         |      |  |  |        | 



F-35



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##### Table of Contents

|10 | Property, plant and equipment
|-- | -----------------------------



|                                         |  |                           |         |   |                             |  |          |                         |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|---------------------------------------- |  | ------------------------- | ------- | - | --------------------------- |  | -------- | ----------------------- |  |  | ---------------------- | - |  | ------------------------ | --------- | - | ----- |  | ------- | - |  |  | --------- | -
|                                         |  | Freeholdland andbuildings |         |   | Infra-structureandequipment |  |          | Assetsunderconstruction |  |  | Totaldata centerassets |   |  | Officeequipmentand other |           |   | Total | 
|                                         |  | (000)                   |        
|Cost:                                    |  |                           |         |   |                             |  |          |                         |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at January 1, 2014                    |  |                           | 103,715 |   |                             |  | 765,282  |                         |  |  | 87,213                 |   |  |                          | 956,210   |   |       |  | 31,028  |   |  |  | 987,238   |  
|Additions                                |  |                           | 53,597  |   |                             |  | 51,782   |                         |  |  | 141,042                |   |  |                          | 246,421   |   |       |  | 5,375   |   |  |  | 251,796   |  
|Exchange differences                     |  |                           | 6       |   |                             |  | 5,227    |                         |  |  | 364                    |   |  |                          | 5,597     |   |       |  | 179     |   |  |  | 5,776     |  
|Disposals                                |  |                           |        |   |                             |  | (2,560   | )                       |  |  |                       |   |  |                          | (2,560    | ) |       |  | (6,631  | ) |  |  | (9,191    | )
|Transfers                                |  |                           | 11,187  |   |                             |  | 142,674  |                         |  |  | (153,861               | ) |  |                          |          |   |       |  |        |   |  |  |          |  
|                                         |  |                           |         |   |                             |  |          |                         |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at December 31, 2014                  |  |                           | 168,505 |   |                             |  | 962,405  |                         |  |  | 74,758                 |   |  |                          | 1,205,668 |   |       |  | 29,951  |   |  |  | 1,235,619 |  
|                                         |  |                           |         |   |                             | 
|Accumulated depreciation and impairment: |  |                           |         |   |                             |  |          |                         |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at January 1, 2014                    |  |                           | (7,308  | ) |                             |  | (260,012 | )                       |  |  |                       |   |  |                          | (267,320  | ) |       |  | (21,170 | ) |  |  | (288,490  | )
|Depreciation                             |  |                           | (1,962  | ) |                             |  | (53,907  | )                       |  |  |                       |   |  |                          | (55,869   | ) |       |  | (3,231  | ) |  |  | (59,100   | )
|Exchange differences                     |  |                           |        |   |                             |  | (1,533   | )                       |  |  |                       |   |  |                          | (1,533    | ) |       |  | (110    | ) |  |  | (1,643    | )
|Disposals                                |  |                           |        |   |                             |  | 2,170    |                         |  |  |                       |   |  |                          | 2,170     |   |       |  | 6,628   |   |  |  | 8,798     |  
|                                         |  |                           |         |   |                             |  |          |                         |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at December 31, 2014                  |  |                           | (9,270  | ) |                             |  | (313,282 | )                       |  |  |                       |   |  |                          | (322,552  | ) |       |  | (17,883 | ) |  |  | (340,435  | )
|                                         |  |                           |         |   |                             |  |          |                         |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|Carrying amount as at December 31, 2014  |  |                           | 159,235 |   |                             |  | 649,123  |                         |  |  | 74,758                 |   |  |                          | 883,116   |   |       |  | 12,068  |   |  |  | 895,184   |  
|                                         |  |                           |         |   |                             |  |          |                         |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|                                         |  |                           |         |   |                             | 
|Cost:                                    |  |                           |         |   |                             |  |          |                         |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at January 1, 2013                    |  |                           | 87,157  |   |                             |  | 709,722  |                         |  |  | 30,553                 |   |  |                          | 827,432   |   |       |  | 28,883  |   |  |  | 856,315   |  
|Additions                                |  |                           | 16,558  |   |                             |  | 27,206   |                         |  |  | 89,770                 |   |  |                          | 133,534   |   |       |  | 2,373   |   |  |  | 135,907   |  
|Exchange differences                     |  |                           |        |   |                             |  | (3,735   | )                       |  |  |                       |   |  |                          | (3,735    | ) |       |  | (122    | ) |  |  | (3,857    | )
|Disposals                                |  |                           |        |   |                             |  | (1,021   | )                       |  |  |                       |   |  |                          | (1,021    | ) |       |  | (106    | ) |  |  | (1,127    | )
|Transfers                                |  |                           |        |   |                             |  | 33,110   |                         |  |  | (33,110                | ) |  |                          |          |   |       |  |        |   |  |  |          |  
|                                         |  |                           |         |   |                             |  |          |                         |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|                                         |  |                           |         |   |                             | 
|As at December 31, 2013                  |  |                           | 103,715 |   |                             |  | 765,282  |                         |  |  | 87,213                 |   |  |                          | 956,210   |   |       |  | 31,028  |   |  |  | 987,238   |  
|Accumulated depreciation and impairment: |  |                           |         |   |                             |  |          |                         |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at January 1, 2013                    |  |                           | (4,594  | ) |                             |  | (211,882 | )                       |  |  |                       |   |  |                          | (216,476  | ) |       |  | (18,908 | ) |  |  | (235,384  | )
|Depreciation                             |  |                           | (2,714  | ) |                             |  | (49,941  | )                       |  |  |                       |   |  |                          | (52,655   | ) |       |  | (2,435  | ) |  |  | (55,090   | )
|Exchange differences                     |  |                           |        |   |                             |  | 790      |                         |  |  |                       |   |  |                          | 790       |   |       |  | 67      |   |  |  | 857       |  
|Disposals                                |  |                           |        |   |                             |  | 1,021    |                         |  |  |                       |   |  |                          | 1,021     |   |       |  | 106     |   |  |  | 1,127     |  
|                                         |  |                           |         |   |                             |  |          |                         |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at December 31, 2013                  |  |                           | (7,308  | ) |                             |  | (260,012 | )                       |  |  |                       |   |  |                          | (267,320  | ) |       |  | (21,170 | ) |  |  | (288,490  | )
|                                         |  |                           |         |   |                             |  |          |                         |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|Carrying amount as at December 31, 2013  |  |                           | 96,407  |   |                             |  | 505,270  |                         |  |  | 87,213                 |   |  |                          | 688,890   |   |       |  | 9,858   |   |  |  | 698,748   |  
|                                         |  |                           |         |   |                             |  |          |                         |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  



F-36



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##### Table of Contents

|                                         |  |                           |        |   |                             |  |          |                         |  |  |                       |   |  |                          |          |   |       |  |         |   |  |  |          |  
|---------------------------------------- |  | ------------------------- | ------ | - | --------------------------- |  | -------- | ----------------------- |  |  | --------------------- | - |  | ------------------------ | -------- | - | ----- |  | ------- | - |  |  | -------- | -
|                                         |  | Freeholdland andbuildings |        |   | Infra-structureandequipment |  |          | Assetsunderconstruction |  |  | Totaldatacenterassets |   |  | Officeequipmentand other |          |   | Total | 
|                                         |  | (000)                   |       
|Cost:                                    |  |                           |        |   |                             |  |          |                         |  |  |                       |   |  |                          |          |   |       |  |         |   |  |  |          |  
|As at January 1, 2012                    |  |                           | 38,710 |   |                             |  | 506,847  |                         |  |  | 101,173               |   |  |                          | 646,730  |   |       |  | 24,830  |   |  |  | 671,560  |  
|Additions                                |  |                           | 48,447 |   |                             |  | 41,590   |                         |  |  | 89,431                |   |  |                          | 179,468  |   |       |  | 3,973   |   |  |  | 183,441  |  
|Exchange differences                     |  |                           |       |   |                             |  | 2,862    |                         |  |  |                      |   |  |                          | 2,862    |   |       |  | 112     |   |  |  | 2,974    |  
|Disposals                                |  |                           |       |   |                             |  | (1,628   | )                       |  |  |                      |   |  |                          | (1,628   | ) |       |  | (32     | ) |  |  | (1,660   | )
|Transfers                                |  |                           |       |   |                             |  | 160,051  |                         |  |  | (160,051              | ) |  |                          |         |   |       |  |        |   |  |  |         |  
|                                         |  |                           |        |   |                             |  |          |                         |  |  |                       |   |  |                          |          |   |       |  |         |   |  |  |          |  
|As at December 31, 2012                  |  |                           | 87,157 |   |                             |  | 709,722  |                         |  |  | 30,553                |   |  |                          | 827,432  |   |       |  | 28,883  |   |  |  | 856,315  |  
|                                         |  |                           |        |   |                             | 
|Accumulated depreciation and impairment: |  |                           |        |   |                             |  |          |                         |  |  |                       |   |  |                          |          |   |       |  |         |   |  |  |          |  
|As at January 1, 2012                    |  |                           | (3,042 | ) |                             |  | (174,116 | )                       |  |  |                      |   |  |                          | (177,158 | ) |       |  | (16,604 | ) |  |  | (193,762 | )
|Depreciation                             |  |                           | (1,552 | ) |                             |  | (38,668  | )                       |  |  |                      |   |  |                          | (40,220  | ) |       |  | (2,275  | ) |  |  | (42,495  | )
|Exchange differences                     |  |                           |       |   |                             |  | (726     | )                       |  |  |                      |   |  |                          | (726     | ) |       |  | (61     | ) |  |  | (787     | )
|Disposals                                |  |                           |       |   |                             |  | 1,628    |                         |  |  |                      |   |  |                          | 1,628    |   |       |  | 32      |   |  |  | 1,660    |  
|                                         |  |                           |        |   |                             |  |          |                         |  |  |                       |   |  |                          |          |   |       |  |         |   |  |  |          |  
|As at December 31, 2012                  |  |                           | (4,594 | ) |                             |  | (211,882 | )                       |  |  |                      |   |  |                          | (216,476 | ) |       |  | (18,908 | ) |  |  | (235,384 | )
|                                         |  |                           |        |   |                             |  |          |                         |  |  |                       |   |  |                          |          |   |       |  |         |   |  |  |          |  
|Carrying amount as at December 31, 2012  |  |                           | 82,563 |   |                             |  | 497,840  |                         |  |  | 30,553                |   |  |                          | 610,956  |   |       |  | 9,975   |   |  |  | 620,931  |  
|                                         |  |                           |        |   |                             |  |          |                         |  |  |                       |   |  |                          |          |   |       |  |         |   |  |  |          |  

In November 2014, the Group agreed to purchase the VIE data center land and building. As a result of this
modification, in accordance with IAS17, as of November 2014, the lease, which was previously reported as an operating lease is reported as a financial lease. The carrying amount of the land amounts to 8,619,000 and the carrying value of the
building amounts to 10,097,000. The purchase transaction was effectuated in January 2015.

In August 2014, the Group exercised its
option to purchase the AMS7 data center land and building. The actual legal transaction will become effective in 2023. As a result of this modification, in accordance with IAS17, as of August 2014, the lease, which was previously reported as an
operating lease is reported as a financial lease. The carrying amount of the land amounts to 5,800,000 and the carrying amount of the leased building amounts to 7,511,000.

In August 2014, the Group completed the 8.5 million transaction with Société Française du
Radiotéléphone  SFR SA (SFR) to purchase a data center campus in Marseille, France, owned by SFR. As at December 31, 2014, the carrying amount of the land amounts to 638,000 and the carrying value of the
building amounts to 7,161,000.

In January 2014, the Group completed the 11.4 million transaction to purchase the data
center property in Brussels, Belgium. As at December 31, 2014, the carrying amount of the land amounts to 3,775,000 and the carrying value of the building amounts to 8,635,000.

In December 2012, the Group exercised its option to purchase the PAR7 data center land. The actual legal transaction will become effective in
2019. As a result of this modification, in accordance with IAS17, as of 20 December 2012, the lease, which was previously reported as an operating lease is reported as a financial lease. The carrying amount of the land amounts to
20,832,000 (2013: 20,832,000 and 2012: 20,832,000). In addition, until 2014, the Group leased data center equipment under a number of finance lease agreements, with a carrying amount of 202,000 per December 31, 2013
(2012: 224,000). In 2014, the lease agreement expired and the ownership of these assets was transferred to the Group.

Capitalized
interest relating to borrowing costs for 2014 amounted to 3,604,000 (2013: 1,701,000 and 2012: 9,195,000). The cash effect of the interest capitalized for 2014 amounted to 2,512,000, which is presented in the Statement of
Cash Flows under Purchase of property, plant and equipment (2013: 3,681,000 and 2012: 8,224,000).



F-37



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##### Table of Contents

As at December 31, 2014, the carrying value of freehold land included in the category
Freehold land and buildings amounts to 70,497,000 (2013: 51,663,000 and 2012: 44,092,000).

Depreciation of
property, plant and equipment is disclosed as general and administrative cost in the consolidated statement of income.

At
December 31, 2014, properties with a carrying value of 55,614,000 (2013: 44,017,000 and 2012: 17,568,000) were subject to a registered debenture to secure mortgages (see Note 19).



|11 | Intangible assets
|-- | -----------------

The components of intangible assets are as follows:



|                                        |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |        |  
|--------------------------------------- |  | ---------------- | ------ | - | -------- |  | ------ | ----- |  |  | ------ | - |  |  | ------ | -
|                                        |  | Power gridrights |        |   | Software |  |        | Other |  |  | Total  |  
|                                        |  |                  |        |   | (000)  |  |        |       |  |  |        |  
|Cost:                                   |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |        |  
|As at January 1, 2014                   |  |                  | 11,980 |   |          |  | 10,723 |       |  |  | 2,165  |   |  |  | 24,868 |  
|Additions                               |  |                  | 376    |   |          |  | 2,953  |       |  |  |       |   |  |  | 3,329  |  
|Exchange differences                    |  |                  | 477    |   |          |  | 25     |       |  |  |       |   |  |  | 502    |  
|Disposals                               |  |                  |       |   |          |  | (662   | )     |  |  |       |   |  |  | (662   | )
|                                        |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |        |  
|As at December 31, 2014                 |  |                  | 12,833 |   |          |  | 13,039 |       |  |  | 2,165  |   |  |  | 28,037 |  
|Amortization:                           |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |        |  
|As at January 1, 2014                   |  |                  | (943   | ) |          |  | (4,936 | )     |  |  | (1,111 | ) |  |  | (6,990 | )
|Amortization                            |  |                  | (354   | ) |          |  | (2,144 | )     |  |  | (186   | ) |  |  | (2,684 | )
|Exchange differences                    |  |                  |       |   |          |  | (29    | )     |  |  |       |   |  |  | (29    | )
|Disposals                               |  |                  |       |   |          |  | 662    |       |  |  |       |   |  |  | 662    |  
|                                        |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |        |  
|As at December 31, 2014                 |  |                  | (1,297 | ) |          |  | (6,447 | )     |  |  | (1,297 | ) |  |  | (9,041 | )
|                                        |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |        |  
|Carrying amount as at December 31, 2014 |  |                  | 11,536 |   |          |  | 6,592  |       |  |  | 868    |   |  |  | 18,996 |  
|                                        |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |        |  
|                                        |  |                  |        |  
|As at January 1, 2013                   |  |                  | 11,833 |   |          |  | 9,059  |       |  |  | 2,165  |   |  |  | 23,057 |  
|Additions                               |  |                  | 296    |   |          |  | 1,678  |       |  |  |       |   |  |  | 1,974  |  
|Exchange differences                    |  |                  | (149   | ) |          |  | (14    | )     |  |  |       |   |  |  | (163   | )
|                                        |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |        |  
|As at December 31, 2013                 |  |                  | 11,980 |   |          |  | 10,723 |       |  |  | 2,165  |   |  |  | 24,868 |  
|Amortization:                           |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |        |  
|As at January 1, 2013                   |  |                  | (612   | ) |          |  | (2,882 | )     |  |  | (925   | ) |  |  | (4,419 | )
|Amortization                            |  |                  | (331   | ) |          |  | (2,063 | )     |  |  | (186   | ) |  |  | (2,580 | )
|Exchange differences                    |  |                  |       |   |          |  | 9      |       |  |  |       |   |  |  | 9      |  
|                                        |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |        |  
|As at December 31, 2013                 |  |                  | (943   | ) |          |  | (4,936 | )     |  |  | (1,111 | ) |  |  | (6,990 | )
|                                        |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |        |  
|Carrying amount as at December 31, 2013 |  |                  | 11,037 |   |          |  | 5,787  |       |  |  | 1,054  |   |  |  | 17,878 |  
|                                        |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |        |  



F-38



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##### Table of Contents

|                                        |  |                  |        |   |          |  |        |       |  |  |       |   |  |  |        |  
|--------------------------------------- |  | ---------------- | ------ | - | -------- |  | ------ | ----- |  |  | ----- | - |  |  | ------ | -
|                                        |  | Power gridrights |        |   | Software |  |        | Other |  |  | Total |  
|                                        |  |                  |        |   | (000)  |  |        |       |  |  |       |  
|Cost:                                   |  |                  |        |   |          |  |        |       |  |  |       |   |  |  |        |  
|As at January 1, 2012                   |  |                  | 7,378  |   |          |  | 6,246  |       |  |  | 1,835 |   |  |  | 15,459 |  
|Additions                               |  |                  | 4,300  |   |          |  | 2,822  |       |  |  | 330   |   |  |  | 7,452  |  
|Disposals                               |  |                  |       |   |          |  | (9     | )     |  |  |      |   |  |  | (9     | )
|Exchange differences                    |  |                  | 155    |   |          |  |       |       |  |  |      |   |  |  | 155    |  
|                                        |  |                  |        |   |          |  |        |       |  |  |       |   |  |  |        |  
|As at December 31, 2012                 |  |                  | 11,833 |   |          |  | 9,059  |       |  |  | 2,165 |   |  |  | 23,057 |  
|                                        |  |                  |        |  
|Amortization:                           |  |                  |        |   |          |  |        |       |  |  |       |   |  |  |        |  
|As at January 1, 2012                   |  |                  | (350   | ) |          |  | (1,820 | )     |  |  | (747  | ) |  |  | (2,917 | )
|Amortization                            |  |                  | (249   | ) |          |  | (1,071 | )     |  |  | (178  | ) |  |  | (1,498 | )
|Disposals                               |  |                  |       |   |          |  | 9      |       |  |  |      |   |  |  | 9      |  
|Exchange differences                    |  |                  | (13    | ) |          |  |       |       |  |  |      |   |  |  | (13    | )
|                                        |  |                  |        |   |          |  |        |       |  |  |       |   |  |  |        |  
|As at December 31, 2012                 |  |                  | (612   | ) |          |  | (2,882 | )     |  |  | (925  | ) |  |  | (4,419 | )
|                                        |  |                  |        |   |          |  |        |       |  |  |       |   |  |  |        |  
|Carrying amount as at December 31, 2012 |  |                  | 11,221 |   |          |  | 6,177  |       |  |  | 1,240 |   |  |  | 18,638 |  
|                                        |  |                  |        |   |          |  |        |       |  |  |       |   |  |  |        |  

Amortization of intangible assets is disclosed as general and administrative cost in the consolidated income
statement.



|12 | Financial asset
|-- | ---------------

The financial asset consists of a 1.6% equity shareholding in
iStreamPlanet Inc. The financial asset was designated as a financial asset measured at fair value through profit and loss.



|13 | Trade and other (non-) current assets
|-- | -------------------------------------



|                                     |  |         |       |  |      |  |        |      |  |  |       | 
|------------------------------------ |  | ------- | ----- |  | ---- |  | ------ | ---- |  |  | ----- | 
|                                     |  | 2014    |       |  | 2013 |  |        | 2012 | 
|                                     |  | (000) |      
|Non-current                          |  |         |       |  |      |  |        |      |  |  |       | 
|Data-center-related prepaid expenses |  |         | 976   |  |      |  | 11,500 |      |  |  |      | 
|Rental and other supplier deposits   |  |         | 2,714 |  |      |  | 2,093  |      |  |  | 2,254 | 
|Deferred financing costs             |  |         | 995   |  |      |  | 1,258  |      |  |  | 1,371 | 
|Deferred rent related stamp duties   |  |         | 523   |  |      |  | 556    |      |  |  | 606   | 
|Cash flow hedge                      |  |         |      |  |      |  | 90     |      |  |  |      | 
|Other non-current assets             |  |         | 542   |  |      |  | 1,039  |      |  |  | 728   | 
|                                     |  |         |       |  |      |  |        |      |  |  |       | 
|                                     |  |         | 5,750 |  |      |  | 16,536 |      |  |  | 4,959 | 
|                                     |  |         |       |  |      |  |        |      |  |  |       | 

As at December 31, 2013, an amount of 11,500,000 was related to cash prepaid to a notary account
from which the acquisition of our Brussels data center building subsequent to year-end has been paid.

The deferred financing costs relate
to the costs incurred for the Revolving Facility Agreement. On June 17, 2013, the Company entered into a 100 million revolving facility agreement with ABN AMRO Bank N.V., Barclays Bank PLC, Citigroup Global Markets Limited, Credit
Suisse AG, Banc of America Securities Limited, as arrangers, the lenders thereunder, Barclays Bank PLC, as agent and Barclays Bank PLC as security trustee. This agreement replaced the 60 million revolving facility agreement. The deferred
financing costs balance of 2012 was charged to the income statement in full in 2013 as a result of the refinancing (see also note 8).



F-39



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##### Table of Contents

On July 3, 2013, in connection with the issue of the 325 million Senior Secured
Notes due 2020, all conditions precedent to the utilization of this revolving facility agreement were satisfied. In 2012, the Company amended the terms of its existing Revolving Facility Agreement. The amended facility, originally scheduled to
expire on February 1, 2013, extended the termination date to May 12, 2016, expanded the credit commitment from 50 million to 60 million and aligned the incurrence covenants with those contained in the indenture of the
former 9.50% Senior Secured Notes due 2017. The capitalized costs are amortized over the duration period of the facility agreement.



|                                          |  |         |         |  |      |  |        |      |  |  |        | 
|----------------------------------------- |  | ------- | ------- |  | ---- |  | ------ | ---- |  |  | ------ | 
|                                          |  | 2014    |         |  | 2013 |  |        | 2012 | 
|                                          |  | (000) |        
|Current                                   |  |         |         |  |      |  |        |      |  |  |        | 
|Trade receivables  net (Note 20)         |  |         | 69,224  |  |      |  | 58,405 |      |  |  | 51,119 | 
|Taxes receivable                          |  |         | 2,881   |  |      |  | 7,093  |      |  |  | 3,052  | 
|Accrued revenue                           |  |         | 35,104  |  |      |  | 21,234 |      |  |  | 10,778 | 
|Prepaid expenses and other current assets |  |         | 13,553  |  |      |  | 9,971  |      |  |  | 9,905  | 
|                                          |  |         |         |  |      |  |        |      |  |  |        | 
|                                          |  |         | 120,762 |  |      |  | 96,703 |      |  |  | 74,854 | 
|                                          |  |         |         |  |      |  |        |      |  |  |        | 

Accrued revenue relate to service fee holidays provided in relation to our long-term customer contracts.

Prepaid expenses and other current assets principally comprise accrued income, prepaid insurances, rental and other related operational
data center and construction-related prepayments.



|14 | Cash and cash equivalents and short-term investments
|-- | ----------------------------------------------------

Cash and cash equivalents include
5,286,000 (2013: 4,078,000 and 2012: 5,017,000) that is restricted and held as collateral to support the issuance of bank guarantees on behalf of a number of subsidiary companies.

Short-term investments relate to short-term interest bearing deposit accounts.



|15 | Shareholders equity
|-- | --------------------

Share capital and share premium



|                           |  |                          |        |  |      |  |        |      |  |  |        | 
|-------------------------- |  | ------------------------ | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                           |  | Ordinary shares          |       
|                           |  | 2014                     |        |  | 2013 |  |        | 2012 | 
|                           |  | (In thousands of shares) |       
|On issue at January 1      |  |                          | 68,867 |  |      |  | 68,176 |      |  |  | 66,129 | 
|Issue/conversion of shares |  |                          | 450    |  |      |  | 691    |      |  |  | 2,047  | 
|                           |  |                          |        |  |      |  |        |      |  |  |        | 
|On issue at December 31    |  |                          | 69,317 |  |      |  | 68,867 |      |  |  | 68,176 | 

On January 28, 2011, the Company issued 16,250 thousand new shares (post reverse stock split) at the
New York Stock Exchange under the ticker symbol INXN. On completion of the offering, the Company did a reverse stock split 5:1, which resulted in nominal value of 0.10 per ordinary shares. The 34,808 thousand Preferred Shares were
converted into ordinary shares and the Liquidation Price of 1.00 (post reverse stock split) per Preferred A Share was either paid out in cash or converted in ordinary shares (3.3 million ordinary shares). In 2014, a total of approximately
0.5million (2013: 0.7 million, 2012: 2.0 million) options were exercised and restricted and performance shares were vested.

At
December 31, 2014, 2013 and 2012, the authorised share capital comprised 200,000,000 ordinary shares at par value of 0.10. All issued shares are fully paid.

Voting

On completion of the initial
public offering in January 2011, the Company entered into a shareholders agreement with affiliates of Baker Capital. For so long as Baker Capital or its affiliates continue to be the owner



F-40



---

##### Table of Contents

of shares representing more than 25% of our outstanding ordinary shares, Baker Capital will have the right to designate for nomination a majority of the members of our Board of Directors,
including the right to nominate the Chairman of our Board of Directors. As a result, these shareholders have, and will continue to have, directly or indirectly, the power, among other things, to affect our legal and capital structure and our
day-to-day operations, as well as the ability to elect and change our management and to approve other changes to our operation. The interests of Baker Capital and its affiliates could conflict with your interests, particularly if we encounter
financial difficulties or are unable to pay our debts when due. Affiliates of Baker Capital also have an interest in pursuing acquisitions, divestitures, financings or other transactions that, in their judgment, could enhance their equity
investments, although such transactions might involve risks to you as a holder of ordinary shares. In addition, Baker Capital or its affiliates may, in the future, own businesses that directly compete with ours or do business with us. The
concentration of ownership may further have the effect of delaying, preventing or deterring a change of control of our Company, could deprive our shareholders of an opportunity to receive a premium for their ordinary shares as part of a sale of our
company and might ultimately affect the market price of our ordinary shares.

As at March 31, 2015, private equity investment funds
affiliated with Baker Capital indirectly own 26.85%, on a fully diluted basis, of Interxions equity.

Foreign currency translation reserve

The foreign currency translation reserve comprises of all foreign exchange differences arising from the translation of the financial
statements of foreign operations as well as from the translation of intergroup balances with a permanent nature.



|16 | Earnings per share
|-- | ------------------

Basic earnings per share

The calculation of basic earnings per share at December 31, 2014, was based on the profit of 35,060,000 attributable to ordinary
shareholders (2013: 6,824,000 and 2012: 31,631,000) and a weighted average number of ordinary shares outstanding during the year ended December 31, 2014 of 69,048,000 (for the years; 2013: 68,584,000 and 2012: 67,309,000). Profit is
attributable to ordinary on an equal basis.

Diluted earnings per share

The calculation of diluted earnings per share at December 31, 2014 was based on the profit of 35,060,000 attributable to ordinary
shareholders (2013: 6,824,000 and 2012: 31,631,000) and a weighted average number of ordinary shares and the impact of options, restricted share and performance shares outstanding during the year ended December 31, 2014 of
69,922,000 (for the years; 2013: 69,345,000 and 2012: 68,262,000).

In January 2011, the Company issued new shares at the New York Stock
Exchange under the ticker symbol INXN. On completion of the offering, the Company did a reverse stock split 5:1, which resulted in nominal value of 0.10 per ordinary share. The 5:1 reverse stock split effectuated is presented in the basic
earnings per share calculation and the diluted earnings per share calculation.



F-41



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##### Table of Contents

Profit attributable to ordinary shareholders



|                                             |  |         |        |  |      |  |       |      |  |  |        | 
|-------------------------------------------- |  | ------- | ------ |  | ---- |  | ----- | ---- |  |  | ------ | 
|                                             |  | 2014    |        |  | 2013 |  |       | 2012 | 
|                                             |  | (000) |       
|Profit attributable to ordinary shareholders |  |         | 35,060 |  |      |  | 6,824 |      |  |  | 31,631 | 

Weighted average number of ordinary shares



|                                                                             |  |                          |        |  |      |  |        |      |  |  |        | 
|---------------------------------------------------------------------------- |  | ------------------------ | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                                                                             |  | 2014                     |        |  | 2013 |  |        | 2012 | 
|                                                                             |  | (in thousands of shares) |       
|Weighted average number of ordinary shares at December 31                    |  |                          | 69,048 |  |      |  | 68,584 |      |  |  | 67,309 | 
|Dilution effect of share options, restricted and performance shares on issue |  |                          | 874    |  |      |  | 761    |      |  |  | 953    | 
|                                                                             |  |                          |        |  |      |  |        |      |  |  |        | 
|Weighted average number of ordinary (diluted) at December 31                 |  |                          | 69,922 |  |      |  | 69,345 |      |  |  | 68,262 | 
|                                                                             |  |                          |        |  |      |  |        |      |  |  |        | 



|17 | Trade payables and other liabilities
|-- | ------------------------------------



|                              |  |         |         |  |      |  |         |      |  |  |         | 
|----------------------------- |  | ------- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                              |  | 2014    |         |  | 2013 |  |         | 2012 | 
|                              |  | (000) |        
|Non-current                   |  |         |         |  |      |  |         |      |  |  |         | 
|Deferred revenue              |  |         | 4,986   |  |      |  | 4,605   |      |  |  | 5,014   | 
|Other non-current liabilities |  |         | 7,225   |  |      |  | 6,932   |      |  |  | 6,180   | 
|                              |  |         |         |  |      |  |         |      |  |  |         | 
|                              |  |         | 12,211  |  |      |  | 11,537  |      |  |  | 11,194  | 
|                              |  |         |         |  |      |  |         |      |  |  |         | 
|Current                       |  |         |         |  |      |  |         |      |  |  |         | 
|Trade payables                |  |         | 23,902  |  |      |  | 28,175  |      |  |  | 21,087  | 
|Tax and social security       |  |         | 9,921   |  |      |  | 8,778   |      |  |  | 10,788  | 
|Customer deposits             |  |         | 19,286  |  |      |  | 18,507  |      |  |  | 18,274  | 
|Deferred revenue              |  |         | 53,246  |  |      |  | 44,550  |      |  |  | 41,516  | 
|Accrued expenses              |  |         | 40,147  |  |      |  | 32,083  |      |  |  | 36,113  | 
|                              |  |         |         |  |      |  |         |      |  |  |         | 
|                              |  |         | 146,502 |  |      |  | 132,093 |      |  |  | 127,778 | 
|                              |  |         |         |  |      |  |         |      |  |  |         | 

Trade payables include 13,976,000 (2013: 20,074,000 and 2012 10,319,000) accounts payable in
respect of purchases of property, plant and equipment.

Accrued expenses are analyzed as follows:



|                                          |  |         |        |  |      |  |        |      |  |  |        | 
|----------------------------------------- |  | ------- | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                                          |  | 2014    |        |  | 2013 |  |        | 2012 | 
|                                          |  | (000) |       
|Data-center-related costs                 |  |         | 9,042  |  |      |  | 7,158  |      |  |  | 9,959  | 
|Personnel and related costs               |  |         | 9,381  |  |      |  | 8,769  |      |  |  | 8,060  | 
|Professional services                     |  |         | 1,857  |  |      |  | 1,824  |      |  |  | 2,083  | 
|Customer implementation and related costs |  |         | 3,689  |  |      |  | 2,199  |      |  |  | 3,039  | 
|Financing-related costs                   |  |         | 13,414 |  |      |  | 9,994  |      |  |  | 9,625  | 
|Other                                     |  |         | 2,764  |  |      |  | 2,139  |      |  |  | 3,347  | 
|                                          |  |         |        |  |      |  |        |      |  |  |        | 
|                                          |  |         | 40,147 |  |      |  | 32,083 |      |  |  | 36,113 | 
|                                          |  |         |        |  |      |  |        |      |  |  |        | 



F-42



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##### Table of Contents

As at December 31, 2014, the accrued financing-related costs principally relate to interest
expenses on the Senior Secured Notes.



|18 | Provision for onerous lease contracts
|-- | -------------------------------------

As at December 31, 2014, the provision for
onerous lease contracts relates to two unused data center sites in Germany, one in Munich terminating in March 2016 and one in Dusseldorf terminating in August 2016.

The provision is calculated based on the discounted future contracted payments net of any sublease revenues.



|                                 |  |         |        |   |      |  |        |      |  |  |        |  
|-------------------------------- |  | ------- | ------ | - | ---- |  | ------ | ---- |  |  | ------ | -
|                                 |  | 2014    |        |   | 2013 |  |        | 2012 | 
|                                 |  | (000) |       
|As at January 1                  |  |         | 8,875  |   |      |  | 11,826 |      |  |  | 13,726 |  
|Increase/(decrease) in provision |  |         | (805   | ) |      |  |       |      |  |  | 838    |  
|Unwinding of discount            |  |         | 230    |   |      |  | 334    |      |  |  | 428    |  
|Utilization of provision         |  |         | (3,366 | ) |      |  | (3,285 | )    |  |  | (3,166 | )
|                                 |  |         |        |   |      |  |        |      |  |  |        |  
|As at December 31                |  |         | 4,934  |   |      |  | 8,875  |      |  |  | 11,826 |  
|                                 |  |         |        |   |      |  |        |      |  |  |        |  
|Non-current                      |  |         | 1,491  |   |      |  | 4,855  |      |  |  | 7,848  |  
|Current                          |  |         | 3,443  |   |      |  | 4,020  |      |  |  | 3,978  |  
|                                 |  |         |        |   |      |  |        |      |  |  |        |  
|                                 |  |         | 4,934  |   |      |  | 8,875  |      |  |  | 11,826 |  
|                                 |  |         |        |   |      |  |        |      |  |  |        |  

Discounted estimated future losses are calculated using a discount rate based on the five-year euro-area
government benchmark bond yield prevailing at the balance sheet date.



|19 | Borrowings
|-- | ----------



|                                    |  |         |         |  |      |  |         |      |  |  |         | 
|----------------------------------- |  | ------- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                                    |  | 2014    |         |  | 2013 |  |         | 2012 | 
|                                    |  | (000) |        
|Non-current                         |  |         |         |  |      |  |         |      |  |  |         | 
|Senior Secured Notes 6.0%, due 2020 |  |         | 475,643 |  |      |  | 317,610 |      |  |  |        | 
|Senior Secured Notes 9.5%, due 2017 |  |         |        |  |      |  |        |      |  |  | 256,268 | 
|Mortgages                           |  |         | 29,141  |  |      |  | 22,524  |      |  |  | 9,903   | 
|Finance lease liabilities           |  |         | 34,141  |  |      |  | 20,470  |      |  |  | 20,309  | 
|Other loans                         |  |         | 1,605   |  |      |  | 1,605   |      |  |  | 1,605   | 
|                                    |  |         |         |  |      |  |         |      |  |  |         | 
|                                    |  |         | 540,530 |  |      |  | 362,209 |      |  |  | 288,085 | 
|Current                             |  |         |         |  |      |  |         |      |  |  |         | 
|Mortgages                           |  |         | 2,346   |  |      |  | 1,733   |      |  |  |        | 
|Finance lease liabilities           |  |         | 18,716  |  |      |  | 50      |      |  |  | 52      | 
|                                    |  |         |         |  |      |  |         |      |  |  |         | 
|                                    |  |         | 21,062  |  |      |  | 1,783   |      |  |  | 52      | 
|                                    |  |         |         |  |      |  |         |      |  |  |         | 
|Total borrowings                    |  |         | 561,592 |  |      |  | 363,992 |      |  |  | 288,137 | 
|                                    |  |         |         |  |      |  |         |      |  |  |         | 

The carrying amounts of the Groups borrowings are principally denominated in euros. The face value of
the Senior Secured Notes as at December 31, 2014 was 475,000,000 (2013: 325,000,000 and 2012: 260,000,000).

The
face value of the mortgages amounted to 31,993,000 as per December 31, 2014 (2013: 24,833,000 and 2012: 10,000,000).



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##### Table of Contents

Senior Secured Notes and bank borrowings

Mortgages

In November 2012, the Group
entered into a five-year mortgage for 10 million. The mortgage is secured by the AMS6 land and data center buildings with a carrying value of 15,895,000. The loan is subject to a floating interest rate of EURIBOR plus an individual
margin of 275 basis points.

In January 2013, the Group completed two mortgage financings totaling 10 million. The loans are secured
by mortgages on the PAR3 land, owned by Interxion Real Estate II Sarl, and the PAR5 land, owned by Interxion Real Estate III Sarl, pledges on the lease agreements, and are guaranteed by Interxion France SAS. The principal amounts on the two loans
are to be repaid in quarterly instalments in an aggregate amount of 167,000 commencing on April 18, 2013. The mortgages have a maturity of fifteen years and have a variable interest rate based on EURIBOR plus an individual margin ranging
from 240 to 280 basis points. The interest rates have been fixed for 75% of the principal outstanding amount for a period of 10 years.

In
June 2013, the Group completed a 6 million mortgage financing. The loan is secured by a mortgage on the AMS3 property owned by Interxion Real Estate V B.V. and a pledge on the lease agreement. The principal is to be repaid in annual
instalments of 400,000 commencing May 1, 2014 and a final repayment of 4,400,000 due on May 1, 2018. The mortgage has a variable interest rate based on EURIBOR plus 275 basis points. The loan contains a minimum of 1.1 debt
service capacity covenant ratio based on operations of Interxion Real Estate V B.V.

In April 2014, the Group completed a
9.2 million financing. The facility is secured by a mortgage on the data center property in Belgium, which was acquired by Interxion Real Estate IX N.V. on January 9, 2014, a pledge on the lease agreement, and is guaranteed by
Interxion Real Estate Holding B.V. The facility has a maturity of fifteen years and has a variable interest rate based on EURIBOR plus 200 basis points. The principal amount is to be repaid in 59 quarterly instalments of 153,550 of which the
first quarterly instalment was paid on July 31, 2014, and a final repayment is due on April 30, 2029.

These mortgages do not
conflict with the restrictions of the Indenture and the Revolving Facility Agreement.

Senior Secured Notes due 2017

On June 3, 2013, the Company announced an offer to purchase for cash any and all of its outstanding euro-denominated
260 million Senior Secured Notes due 2017.

On June 28, 2013, holders of 256,962,000 aggregate principal amount of
the 260 million Senior Secured Notes due 2017, representing 98.8% of the outstanding Notes, had validly tendered their Notes.

The total consideration for each 1,000 principal amount of the 260 million Senior Secured Notes due 2017 validly tendered
prior to the consent deadline was 1,102 and after the consent deadline 1,092 plus the accrued and unpaid interest up to, but not including, the day of settlement.

On July 3, 2013, the tender was completed and the Company discharged its obligations with respect to the remaining 3,038,000
outstanding 260 million Senior Secured Notes due 2017 not purchased in the offer in accordance with the satisfaction and discharge provisions of the indenture governing the 260 million Senior Secured Notes due 2017. These Notes
were redeemed on August 2, 2013 at a redemption price equal to a make-whole amount of 1,094 for each 1,000 principal amount, as calculated in accordance with the terms of the indenture governing the
260 million Senior Secured Notes due 2017, plus accrued and unpaid interest up to, but not including, the redemption date.

The
total redemption fees amounted to approximately 26.5 million; in addition, the Company incurred approximately 4.5 million in non-cash expenses from the deferred financing costs relating to the former 60 million Revolving
Facility Agreement and the unamortized costs of the Senior Secured Notes due 2017.

Senior Secured Notes due 2020

On July 3, 2013, the Company issued an aggregate principal amount of 325 million 6.00% Senior Secured Notes due 2020 (the
Senior Secured Notes due 2020).



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##### Table of Contents

The net proceeds of the offering were used to purchase all of the 260 million Senior
Secured Notes due 2017, which were tendered in the offer for those notes and to redeem the 260 million Senior Secured Notes due 2017 which remained outstanding following the expiration and settlement of the tender offer and consent
solicitation, to pay all related fees, expenses and premiums and for other general corporate purposes.

The 325 million Senior
Secured Notes due 2020 are governed by an indenture dated July 3, 2013, between the Company, as issuer, and The Bank of New York Mellon, London Branch as Trustee. The indenture contains customary restrictive covenants, including but not limited
to limitations or restrictions on our ability to incur debt, grant liens, make restricted payments and sell assets. The restrictive covenants are subject to customary exceptions and are governed by a consolidated fixed charge ratio to exceed 2.00
and a consolidated senior leverage ratio (net of cash and cash equivalents) not to exceed 4.00.

The obligations under the
325 million Senior Secured Notes due 2020 are guaranteed by certain of the Companys subsidiaries.

On April 29,
2014, the Company completed the issuance of 150 million aggregate principal amount of its 6.00% Senior Secured Notes due 2020 (the Additional Notes). The net proceeds of the offering amount to 157.9 million, net of
offering fees and expenses of 2.3 million. The net proceeds reflect the issuance of the Additional notes at a premium of 106.75 and net of offering fees and expenses. The Additional Notes, which are guaranteed by certain subsidiaries of the
Company, were issued under the indenture pursuant to which, on July 3, 2013, the Company issued 325 million in aggregate principal amount of 6.00% Senior Secured Notes due 2020.

The Company may redeem all or part of the 475 million Senior Secured Notes due 2020. The Company has the following redemption
rights:

Optional Redemption prior to July 15, 2016 upon an equity offering

At any time prior to July 15, 2016, upon not less than 10 nor more than 60 days notice, the Company may on any one or more occasions
redeem up to 35% of the aggregate principal amount of Senior Secured Notes at a redemption price of 106.000% of their principal amount, plus accrued and unpaid interest, if any, to the redemption date, with the net proceeds from one or more equity
offerings. The Company may only do this, however, if:



| | (a) | at least 65% of the aggregate principal amount of Senior Secured Notes that were initially issued (calculated after giving effect to the issuance of any additional notes) would remain outstanding immediately after the
proposed redemption; and
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | the redemption occurs within 90 days after the closing of such equity offering.
| | --- | -------------------------------------------------------------------------------

Optional
Redemption prior to July 15, 2016

Prior to July 15, 2016, upon not less than 10 nor more than 60 days notice, the
Company may during each 12-month period commencing on the issue date redeem up to 10% of the aggregate principal amount of the Senior Secured Notes (calculated after giving effect to the issuance of any additional notes) at a redemption price equal
to 103% of the principal amount redeemed plus accrued and unpaid interest, if any, to the redemption date.

At any time prior to
July 15, 2016, upon not less than 10 nor more than 60 days notice, the Company may also redeem all or part of the Senior Secured Notes at a redemption price equal to 100% of the principal amount thereof plus the applicable redemption
premium and accrued and unpaid interest to the redemption date.

Optional Redemption on or after July 15, 2016

At any time on or after July 15, 2016 and prior to maturity, upon not less than 10 nor more than 60 days notice, the Company may
redeem all or part of the Senior Secured Notes. These redemptions will be in amounts of 100,000 or integral multiples of 1,000 in excess thereof at the following redemption prices (expressed as percentages of their principal amount at
maturity), plus accrued and unpaid interest, if any, to the redemption date, if redeemed during the 12-month period commencing on July 15 of the years set forth below.



|                    |  |                  |         |  
|------------------- |  | ---------------- | ------- | -
|Year                |  | Redemption Price |        
|2016                |  |                  | 104.500 | %
|2017                |  |                  | 103.000 | %
|2018                |  |                  | 101.500 | %
|2019 and thereafter |  |                  | 100.000 | %



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##### Table of Contents

Change of Control

If, at any time, directly or indirectly, a beneficial owner becomes owner of more than 50% of the total voting power of the voting stock of the
Company, a change of control occurs, then the Company shall make an offer to each holder of the Senior Secured Notes to purchase such holders Senior Secured Notes, in whole or in part, in a principal amount of 100,000 or in integral
multiples of 1,000 in excess thereof at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of purchase. Reference is made to Note 26 for disclosure on the binding
agreement with Telecity Group Plc on all-share merger, which is considered as a subsequent event.

100 Million Revolving Facility Agreement

On June 17, 2013, the Company entered into a new 100 million revolving facility agreement with ABN AMRO Bank N.V.,
Barclays Bank PLC, Citigroup Global Markets Limited, Credit Suisse AG, Banc of America Securities Limited, as arrangers, the lenders thereunder, Barclays Bank PLC, as agent and Barclays Bank PLC as security trustee. This new 100 million
revolving facility agreement replaced the 60 million revolving facility agreement.

On July 3, 2013, in connection with
the issue of the 325 million Senior Secured Notes due 2020, all conditions precedent to the utilization of this revolving facility agreement were satisfied.

Change of control or sale of assets

If,
there is a sale of all or substantially all of the assets of the Group whether in a single transaction or a series of related transactions; or a change of control that any beneficial owner gains control of the Company, then a lender under the
revolving facility agreement shall not be obliged to fund a loan to the Company.

In addition, if within 30 days of the Company notifying
the Agent of a change of control or sale of assets as described above, a lender wishes to cancel its commitment under the revolving facility agreement as a result of that event, such lenders commitments will be immediately cancelled and its
participation in all outstanding loans shall, together with the accrued and unpaid interest and all other amounts accrued and outstanding under the agreement, become due and payable within 10 business days of the date on which the relevant lender
notifies the agent, unless the Company replaces such lender within such 10 business day period. Reference is made to Note 26 for disclosure on the binding agreement with Telecity Group Plc. on all-share merger, which is considered as a subsequent
event.

Maturity profile

The
maturity profile of the gross amounts of Senior Secured Notes and Mortgages is set out below:



|                      |  |         |         |  |      |  |         |      |  |  |         | 
|--------------------- |  | ------- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                      |  | 2014    |         |  | 2013 |  |         | 2012 | 
|                      |  | (000) |        
|Within one year       |  |         |        |  |      |  |        |      |  |  |        | 
|Between 1 and 5 years |  |         | 14,266  |  |      |  | 15,333  |      |  |  | 270,000 | 
|Over 5 years          |  |         | 492,727 |  |      |  | 334,500 |      |  |  |        | 
|                      |  |         |         |  |      |  |         |      |  |  |         | 
|                      |  |         | 506,993 |  |      |  | 349,833 |      |  |  | 270,000 | 
|                      |  |         |         |  |      |  |         |      |  |  |         | 



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##### Table of Contents

The Group has the following undrawn bank borrowing facilities:



|                               |  |         |         |  |      |  |         |      |  |  |        | 
|------------------------------ |  | ------- | ------- |  | ---- |  | ------- | ---- |  |  | ------ | 
|                               |  | 2014    |         |  | 2013 |  |         | 2012 | 
|                               |  | (000) |        
|Expiring within one year       |  |         |        |  |      |  |        |      |  |  |       | 
|Expiring between 1 and 5 years |  |         | 100,000 |  |      |  | 100,000 |      |  |  | 60,000 | 
|                               |  |         |         |  |      |  |         |      |  |  |        | 
|                               |  |         | 100,000 |  |      |  | 100,000 |      |  |  | 60,000 | 
|                               |  |         |         |  |      |  |         |      |  |  |        | 

Covenants

The Revolving Facility Agreement contains various covenants that restrict, among other things and subject to certain exceptions, the ability of
the Company and its subsidiaries to:



| |  |  | create certain liens;
| | - |  | ---------------------



| |  |  | incur debt and/or guarantees;
| | - |  | -----------------------------



| |  |  | enter into transactions other than on arms-length basis;
| | - |  | ---------------------------------------------------------



| |  |  | pay dividends or make certain distributions or payments;
| | - |  | --------------------------------------------------------



| |  |  | engage, in relation to the Company, in any business activity or own assets or incur liabilities not authorised by the Revolving Facility Agreement;
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | sell certain kinds of assets;
| | - |  | -----------------------------



| |  |  | enter into any sale and leaseback transactions;
| | - |  | -----------------------------------------------



| |  |  | make certain investments or other types of restricted payments;
| | - |  | ---------------------------------------------------------------



| |  |  | substantially change the nature of the Company or the Groups business;;
| | - |  | ------------------------------------------------------------------------



| |  |  | designate unrestricted subsidiaries; and
| | - |  | ----------------------------------------



| |  |  | effect mergers, consolidations or sale of assets.
| | - |  | -------------------------------------------------

The Revolving Facility also requires the
Company to maintain a specified financial ratio. The restrictive covenants are subject to customary exceptions including, in relation to the incurrence of additional debt, a consolidated fixed charge ratio (calculated as a ratio of adjusted EBITDA
to consolidated interest expense) to exceed 2.00 to 1.00 on a pro forma basis for the four full fiscal quarters (taken as one period) for which financial statements are available immediately preceding the incurrence of such debt and, if such debt is
senior debt, a consolidated senior leverage ratio (calculated as a ratio of outstanding senior debt net of cash and cash equivalents of the Company and its restricted subsidiaries (on a consolidated basis) to pro forma adjusted EBITDA) to be less
than 4.00 to 1.00 on a pro forma basis for the four full fiscal quarters (taken as one period) for which financial statements are available immediately preceding the incurrence of such debt.

The Revolving Facility Agreement also includes a leverage ratio financial covenant (tested on a quarterly basis) requiring total net debt
(calculated as a ratio to pro forma EBITDA) not to exceed a leverage ratio of 4.00 to 1.00. In addition, the Company must ensure, under the Revolving Facility Agreement, that the guarantors represent a certain percentage of adjusted EBITDA of the
Group as a whole and a certain percentage of the consolidated net assets of the Group as a whole. Our ability to meet these covenants may be affected by events beyond our control and, as a result, we cannot assure you that we will be able to meet
the covenants. In the event of a default under our Revolving Facility, the lenders could terminate their commitments and declare all amounts owed to them to be due and payable. Borrowings under other debt instruments that contain cross acceleration
or cross default provisions, including the Senior Secured Notes, may as a result also be accelerated and become due and payable.

The
breach of any of these covenants by the Company or the failure by the Company to maintain its leverage ratio could result in a default under the Revolving Facility Agreement. As of December 31, 2014, the Company was in compliance with all
covenants in the Revolving Facility Agreement. In addition, the Company does not anticipate any such breach or failure and believes that its ability to borrow funds under the Revolving Facility Agreement will not be adversely affected by the
covenants in the next 12 months.



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##### Table of Contents

The Senior Secured Notes due 2020 Indenture contains covenants for the benefit of the holders of
the Notes that restrict, among other things and subject to certain exceptions, the ability of the Company and its subsidiaries to:



| |  |  | incur debt;
| | - |  | -----------



| |  |  | enter into certain transactions with, or for the benefit of, an affiliate;
| | - |  | --------------------------------------------------------------------------



| |  |  | create or incur certain liens;
| | - |  | ------------------------------



| |  |  | incur changes in control;
| | - |  | -------------------------



| |  |  | pay dividends or make certain distributions or payments;
| | - |  | --------------------------------------------------------



| |  |  | engage in any business activity not authorised by the Indenture;
| | - |  | ----------------------------------------------------------------



| |  |  | sell certain kinds of assets;
| | - |  | -----------------------------



| |  |  | impair any security interest on the assets serving as collateral for the Notes;
| | - |  | -------------------------------------------------------------------------------



| |  |  | enter into any sale and leaseback transaction;
| | - |  | ----------------------------------------------



| |  |  | make certain investments or other types of restricted payments;
| | - |  | ---------------------------------------------------------------



| |  |  | designate unrestricted subsidiaries;
| | - |  | ------------------------------------



| |  |  | effect mergers, consolidations or sale of assets; and
| | - |  | -----------------------------------------------------



| |  |  | guarantees certain debt.
| | - |  | ------------------------

The restrictive covenants are subject to customary exceptions and
are governed by a consolidated fixed-charge ratio to exceed 2.00 and a consolidated senior leverage ratio (net of cash and cash equivalents) not to exceed 4.00.

The breach of any of these covenants by the Company could result in a default under the Indenture. As of December 31, 2014, the Company
was in compliance with all covenants in the Indenture.

Interxion remained in full compliance with all its debt covenants. The
Companys consolidated fixed charge ratio stood at 4.36 (2013: 5.40) and both the net debt ratio and the leverage ratio financial covenant stood at 3.24 (2013: 2.48).

Financial lease liabilities

Financial
lease liabilities relate to the acquisition of property, plant and equipment with the following repayment schedule:



|                                        |  |         |         |   |      |  |         |      |  |  |         |  
|--------------------------------------- |  | ------- | ------- | - | ---- |  | ------- | ---- |  |  | ------- | -
|                                        |  | 2014    |         |   | 2013 |  |         | 2012 | 
|                                        |  | (000) |        
|Gross lease liabilities:                |  |         |         |   |      |  |         |      |  |  |         |  
|Within one year                         |  |         | 21,604  |   |      |  | 1,726   |      |  |  | 1,659   |  
|Between 1 and 5 years                   |  |         | 31,964  |   |      |  | 7,492   |      |  |  | 7,215   |  
|More than 5 years                       |  |         | 21,280  |   |      |  | 21,443  |      |  |  | 23,442  |  
|                                        |  |         |         |   |      |  |         |      |  |  |         |  
|                                        |  |         | 74,848  |   |      |  | 30,661  |      |  |  | 32,316  |  
|Future interest payments                |  |         | (21,991 | ) |      |  | (10,141 | )    |  |  | (11,955 | )
|                                        |  |         |         |   |      |  |         |      |  |  |         |  
|Present value of minimum lease payments |  |         | 52,857  |   |      |  | 20,520  |      |  |  | 20,361  |  
|                                        |  |         |         |   |      |  |         |      |  |  |         |  

In November 2014, the Group agreed to purchase the VIE data center land and building. As a result of this
modification, in accordance with IAS17, as of November 2014, the lease, which was previously reported as an



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##### Table of Contents

operating lease is reported as a financial lease. The carrying amount of the land amounts to 8,619,000, the carrying value of the building amounted to 10,097,000. The actual legal
transfer was effectuated in January 2015.

In August 2014, the Group exercised its option to purchase the AMS7 data center land and
building. The actual legal transaction will become effective in 2023. As a result of this modification, in accordance with IAS17, as of August 22, 2014, the lease, which was previously reported as an operating lease is reported as a financial
lease. The carrying amount of the land amounts to 5,800,000, the carrying value of the building amounted to 7,600,000 as per exercise date. The actual legal transaction will become effective in 2023.

In December 2012, the Group exercised its option to purchase the PAR7 data center land. The actual legal transaction will come into effect in
2019. As a result of this modification, in accordance with IAS17, as of December 20, 2012, the lease, which was previously reported as an operating lease is treated as a financial lease. The carrying amount of the land amounts to
20,832,000.

Other loans

The
Group has a loan facility with the landlord of one of its unused data center sites in Germany to allow the Group to invest in improvements to the building to meet the requirements of sub-lessees. The non-current loan bears interest at 6% per
annum and is repayable at the end of the lease term. As at December 31, 2014, the balance of the landlord loan was 1,605,000 (2013 and 2012: 1,605,000).



|20 | Financial instruments
|-- | ---------------------

Credit risk

Exposure to credit risk

The carrying
amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was:



|                                   |  |         |         |  |      |  |         |      |  |  |         | 
|---------------------------------- |  | ------- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                                   |  | 2014    |         |  | 2013 |  |         | 2012 | 
|                                   |  | (000) |        
|Trade receivables                  |  |         | 69,224  |  |      |  | 58,405  |      |  |  | 51,119  | 
|Accrued revenue                    |  |         | 35,104  |  |      |  | 21,234  |      |  |  | 10,778  | 
|Rental and other supplier deposits |  |         | 2,714   |  |      |  | 2,093   |      |  |  | 2,254   | 
|Cash and cash equivalents          |  |         | 99,923  |  |      |  | 45,690  |      |  |  | 68,692  | 
|                                   |  |         |         |  |      |  |         |      |  |  |         | 
|                                   |  |         | 206,965 |  |      |  | 127,422 |      |  |  | 132,843 | 
|                                   |  |         |         |  |      |  |         |      |  |  |         | 

The Group seeks to minimize the risk related to cash and cash equivalents by holding cash as widely as
possible across multiple bank institutions. Term risk is limited to deposits of no more than two weeks. The Group monitors its cash position, including counterparty and term risk, daily.

The Group seeks to minimize the credit risk related to customers by analyzing new customers individually for creditworthiness before it begins
to trade. If customers are independently rated, these ratings are used. If, there is no independent rating, the credit quality of the customer is analyzed taking its financial position, past experience and other factors into account.

The Groups largest financial asset balance exposed to credit risk is with a financial institution, one of the Companys
relationships banks, which accounts for approximately 39% of the total balance exposed to credit risk as at December 31, 2014.

The
Groups largest customer balance exposed to credit risk is with a customer, serviced from multiple locations under multiple service contracts, which accounts for approximately 16% of the total balance exposed to credit risk as at
December 31, 2014.



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##### Table of Contents

The maximum credit exposure on the trade receivables is limited by the deferred revenue balance
of 58,232,000 as presented in Note 17 (2013: 49,155,000 and 2012: 46,530,000).

The exposure to credit risk for trade
receivables at the reporting date by geographic region was:



|                                        |  |         |        |  |      |  |        |      |  |  |        | 
|--------------------------------------- |  | ------- | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                                        |  | 2014    |        |  | 2013 |  |        | 2012 | 
|                                        |  | (000) |       
|UK, France, Germany and The Netherlands |  |         | 55,121 |  |      |  | 44,025 |      |  |  | 36,960 | 
|Rest of Europe                          |  |         | 14,103 |  |      |  | 14,380 |      |  |  | 14,159 | 
|                                        |  |         |        |  |      |  |        |      |  |  |        | 
|                                        |  |         | 69,224 |  |      |  | 58,405 |      |  |  | 51,119 | 
|                                        |  |         |        |  |      |  |        |      |  |  |        | 

The aging of trade receivables as at the reporting date was:



|                         |  |         |        |  |           |  |     |       |  |  |           |  |  |       |     |  |           |  |        |  |  |  |     | 
|------------------------ |  | ------- | ------ |  | --------- |  | --- | ----- |  |  | --------- |  |  | ----- | --- |  | --------- |  | ------ |  |  |  | --- | 
|                         |  | 2014    |        |  | 2013      |  |     | 2012  | 
|                         |  | Gross   |        |  | Allowance |  |     | Gross |  |  | Allowance |  |  | Gross |     |  | Allowance | 
|                         |  | (000) |       
|Not past due             |  |         | 57,009 |  |           |  |    |       |  |  | 50,061    |  |  |       |    |  |           |  | 42,184 |  |  |  |    | 
|Past due 030 days       |  |         | 7,511  |  |           |  |    |       |  |  | 4,312     |  |  |       |    |  |           |  | 5,369  |  |  |  |    | 
|Past due 31120 days     |  |         | 3,640  |  |           |  | 91  |       |  |  | 3,540     |  |  |       |    |  |           |  | 2,913  |  |  |  | 39  | 
|Past due 120 days1 year |  |         | 1,262  |  |           |  | 122 |       |  |  | 361       |  |  |       |    |  |           |  | 763    |  |  |  | 108 | 
|More than 1 year         |  |         | 75     |  |           |  | 60  |       |  |  | 370       |  |  |       | 239 |  |           |  | 219    |  |  |  | 182 | 
|                         |  |         |        |  |           |  |     |       |  |  |           |  |  |       |     |  |           |  |        |  |  |  |     | 
|                         |  |         | 69,497 |  |           |  | 273 |       |  |  | 58,644    |  |  |       | 239 |  |           |  | 51,448 |  |  |  | 329 | 
|                         |  |         |        |  |           |  |     |       |  |  |           |  |  |       |     |  |           |  |        |  |  |  |     | 

The movement in the allowance for impairment in respect of trade receivables during the year was as follows:



|                           |  |         |      |   |      |  |      |      |  |  |      |  
|-------------------------- |  | ------- | ---- | - | ---- |  | ---- | ---- |  |  | ---- | -
|                           |  | 2014    |      |   | 2013 |  |      | 2012 | 
|                           |  | (000) |     
|Balance as at January 1    |  |         | 239  |   |      |  | 329  |      |  |  | 617  |  
|Impairment loss recognized |  |         | 219  |   |      |  | 156  |      |  |  | 372  |  
|Write-offs                 |  |         | (185 | ) |      |  | (246 | )    |  |  | (660 | )
|                           |  |         |      |   |      |  |      |      |  |  |      |  
|Balance as at December 31  |  |         | 273  |   |      |  | 239  |      |  |  | 329  |  
|                           |  |         |      |   |      |  |      |      |  |  |      |  

Based on historic default rates, the Group believes that no impairment allowance is necessary in respect of
trade receivables other than those that have been specifically provided for.

Liquidity risk

The following are the contractual maturities of financial liabilities, including interest payments and excluding the impact of netting
agreements.



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##### Table of Contents

December 31, 2014



|                            |  |                |         |  |                      |  |         |                 |  |  |                    |  |  |                 |         |  |  |  |         | 
|--------------------------- |  | -------------- | ------- |  | -------------------- |  | ------- | --------------- |  |  | ------------------ |  |  | --------------- | ------- |  |  |  | ------- | 
|                            |  | Carryingamount |         |  | Contractualcashflows |  |         | Less than1 year |  |  | Between1 - 5 years |  |  | Morethan5 years |        
|                            |  | (000)        |        
|Financial liabilities       |  |                |         |  |                      |  |         |                 |  |  |                    |  |  |                 |         |  |  |  |         | 
|Senior Secured Notes        |  |                | 475,643 |  |                      |  | 646,000 |                 |  |  | 28,500             |  |  |                 | 114,000 |  |  |  | 503,500 | 
|Finance lease liabilities   |  |                | 52,857  |  |                      |  | 74,848  |                 |  |  | 21,604             |  |  |                 | 31,964  |  |  |  | 21,280  | 
|Mortgages                   |  |                | 31,487  |  |                      |  | 36,783  |                 |  |  | 3,246              |  |  |                 | 20,767  |  |  |  | 12,770  | 
|Other loans                 |  |                | 1,605   |  |                      |  | 1,726   |                 |  |  | 96                 |  |  |                 | 1,630   |  |  |  |        | 
|Trade and other payables(1) |  |                | 81,919  |  |                      |  | 81,919  |                 |  |  | 81,919             |  |  |                 |        |  |  |  |        | 
|                            |  |                |         |  |                      |  |         |                 |  |  |                    |  |  |                 |         |  |  |  |         | 
|                            |  |                | 643,511 |  |                      |  | 841,276 |                 |  |  | 135,365            |  |  |                 | 168,361 |  |  |  | 537,550 | 
|                            |  |                |         |  |                      |  |         |                 |  |  |                    |  |  |                 |         |  |  |  |         | 

December 31, 2013



|                            |  |                |         |  |                      |  |         |                 |  |  |                    |  |  |                 |         |  |  |  |         | 
|--------------------------- |  | -------------- | ------- |  | -------------------- |  | ------- | --------------- |  |  | ------------------ |  |  | --------------- | ------- |  |  |  | ------- | 
|                            |  | Carryingamount |         |  | Contractualcashflows |  |         | Less than1 year |  |  | Between1 - 5 years |  |  | Morethan5 years |        
|                            |  | (000)        |        
|Financial liabilities       |  |                |         |  |                      |  |         |                 |  |  |                    |  |  |                 |         |  |  |  |         | 
|Senior Secured Notes        |  |                | 317,610 |  |                      |  | 462,150 |                 |  |  | 20,150             |  |  |                 | 78,000  |  |  |  | 364,000 | 
|Finance lease liabilities   |  |                | 20,520  |  |                      |  | 30,661  |                 |  |  | 1,726              |  |  |                 | 7,492   |  |  |  | 21,443  | 
|Mortgages                   |  |                | 24,257  |  |                      |  | 29,148  |                 |  |  | 2,552              |  |  |                 | 19,398  |  |  |  | 7,198   | 
|Other loans                 |  |                | 1,605   |  |                      |  | 1,822   |                 |  |  | 96                 |  |  |                 | 1,726   |  |  |  |        | 
|Trade and other payables(1) |  |                | 80,225  |  |                      |  | 80,225  |                 |  |  | 80,225             |  |  |                 |        |  |  |  |        | 
|                            |  |                |         |  |                      |  |         |                 |  |  |                    |  |  |                 |         |  |  |  |         | 
|                            |  |                | 444,217 |  |                      |  | 604,006 |                 |  |  | 104,749            |  |  |                 | 106,616 |  |  |  | 392,641 | 
|                            |  |                |         |  |                      |  |         |                 |  |  |                    |  |  |                 |         |  |  |  |         | 

December 31, 2012



|                            |  |                |         |  |                      |  |         |                 |  |  |                    |  |  |                 |         |  |  |  |        | 
|--------------------------- |  | -------------- | ------- |  | -------------------- |  | ------- | --------------- |  |  | ------------------ |  |  | --------------- | ------- |  |  |  | ------ | 
|                            |  | Carryingamount |         |  | Contractualcashflows |  |         | Less than1 year |  |  | Between1 - 5 years |  |  | Morethan5 years |        
|                            |  | (000)        |        
|Financial liabilities       |  |                |         |  |                      |  |         |                 |  |  |                    |  |  |                 |         |  |  |  |        | 
|Senior Secured Notes        |  |                | 256,268 |  |                      |  | 371,150 |                 |  |  | 24,700             |  |  |                 | 346,450 |  |  |  |       | 
|Finance lease liabilities   |  |                | 20,361  |  |                      |  | 32,316  |                 |  |  | 1,659              |  |  |                 | 7,215   |  |  |  | 23,442 | 
|Mortgages                   |  |                | 9,903   |  |                      |  | 11,327  |                 |  |  | 938                |  |  |                 | 10,389  |  |  |  |       | 
|Other loans                 |  |                | 1,605   |  |                      |  | 1,918   |                 |  |  | 96                 |  |  |                 | 1,822   |  |  |  |       | 
|Trade and other payables(1) |  |                | 88,517  |  |                      |  | 88,517  |                 |  |  | 88,517             |  |  |                 |        |  |  |  |       | 
|                            |  |                |         |  |                      |  |         |                 |  |  |                    |  |  |                 |         |  |  |  |        | 
|                            |  |                | 376,654 |  |                      |  | 505,228 |                 |  |  | 115,910            |  |  |                 | 365,876 |  |  |  | 23,442 | 
|                            |  |                |         |  |                      |  |         |                 |  |  |                    |  |  |                 |         |  |  |  |        | 



Notes:



|(1) | Excludes deferred revenues and rental holidays. Accrued interest on Senior Secured Notes and mortgages is classified under the respective liability category.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------



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##### Table of Contents

Market risk

Exposure to currency risk

The following
significant exchange rates applied during the year:



|      |  |              |       |  |                          |  |       |      |  |  |       |  |  |      |       |  |      |  |       |  |  |  |       | 
|----- |  | ------------ | ----- |  | ------------------------ |  | ----- | ---- |  |  | ----- |  |  | ---- | ----- |  | ---- |  | ----- |  |  |  | ----- | 
|      |  | Average rate |       |  | Report datemid-spot rate | 
|      |  | 2014         |       |  | 2013                     |  |       | 2012 |  |  | 2014  |  |  | 2013 |       |  | 2012 | 
|Euro  |  |              |       |  |                          |  |       |      |  |  |       |  |  |      |       |  |      |  |       |  |  |  |       | 
|GBP 1 |  |              | 1.241 |  |                          |  | 1.179 |      |  |  | 1.233 |  |  |      | 1.278 |  |      |  | 1.198 |  |  |  | 1.222 | 
|CHF 1 |  |              | 0.823 |  |                          |  | 0.813 |      |  |  | 0.830 |  |  |      | 0.831 |  |      |  | 0.816 |  |  |  | 0.828 | 
|DKK 1 |  |              | 0.134 |  |                          |  | 0.134 |      |  |  | 0.134 |  |  |      | 0.134 |  |      |  | 0.134 |  |  |  | 0.134 | 
|SEK 1 |  |              | 0.110 |  |                          |  | 0.116 |      |  |  | 0.115 |  |  |      | 0.105 |  |      |  | 0.113 |  |  |  | 0.116 | 

Sensitivity analysis

A 10% strengthening of the euro against the following currencies at December 31 would have increased (decreased) equity and profit or loss
by approximately the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remained constant and was performed on the same basis for 2013 and 2012.



|                  |  |         |        |   |               |  |      |  
|----------------- |  | ------- | ------ | - | ------------- |  | ---- | -
|                  |  | Equity  |        |   | Profit orloss | 
|                  |  | (000) |       
|December 31, 2014 |  |         |        |   |               |  |      |  
|GBP               |  |         | (2,415 | ) |               |  | (903 | )
|CHF               |  |         | (4,138 | ) |               |  | (23  | )
|DKK               |  |         | (1,763 | ) |               |  | (155 | )
|SEK               |  |         | (212   | ) |               |  | 117  |  
|December 31, 2013 |  |         |        |   |               |  |      |  
|GBP               |  |         | (1,337 | ) |               |  | (420 | )
|CHF               |  |         | (4,015 | ) |               |  | (23  | )
|DKK               |  |         | (1,587 | ) |               |  | (148 | )
|SEK               |  |         | (345   | ) |               |  | 32   |  
|December 31, 2012 |  |         |        |   |               |  |      |  
|GBP               |  |         | (849   | ) |               |  | (622 | )
|CHF               |  |         | (1,192 | ) |               |  | 146  |  
|DKK               |  |         | (1,434 | ) |               |  | (149 | )
|SEK               |  |         | (390   | ) |               |  | 43   |  

A 10% weakening of the euro against the above currencies at December 31 would have had the equal, but
opposite, effect to the amounts shown above, on the basis that all other variables remained constant.



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##### Table of Contents

Interest rate risk

Profile

At the reporting date, the
interest rate profile of the Groups interest-bearing financial instruments was:



|                          |  |                 |         |  |      |  |         |      |  |  |         | 
|------------------------- |  | --------------- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                          |  | Carrying amount |        
|                          |  | 2014            |         |  | 2013 |  |         | 2012 | 
|                          |  | (000)         |        
|Fixed-rate instrument     |  |                 |         |  |      |  |         |      |  |  |         | 
|Senior Secured Notes      |  |                 | 475,643 |  |      |  | 317,610 |      |  |  | 256,268 | 
|Finance lease liabilities |  |                 | 52,857  |  |      |  | 20,520  |      |  |  | 20,361  | 
|Mortgages                 |  |                 | 6,341   |  |      |  | 6,801   |      |  |  |        | 
|Other loans               |  |                 | 1,605   |  |      |  | 1,605   |      |  |  | 1,605   | 
|                          |  |                 |         |  |      |  |         |      |  |  |         | 
|                          |  |                 | 536,446 |  |      |  | 346,536 |      |  |  | 278,234 | 
|Variable-rate instruments |  |                 |         |  |      |  |         |      |  |  |         | 
|Mortgages                 |  |                 | 25,146  |  |      |  | 17,456  |      |  |  | 9,903   | 
|                          |  |                 |         |  |      |  |         |      |  |  |         | 
|                          |  |                 | 561,592 |  |      |  | 363,992 |      |  |  | 288,137 | 
|                          |  |                 |         |  |      |  |         |      |  |  |         | 

The mortgages on the PAR3 land, owned by Interxion Real Estate II Sarl, and the PAR5 land, owned by Interxion
Real Estate III Sarl have variable interest rates based on EURIBOR plus an individual margin ranging from 240 to 280 basis points. The interest rates have been fixed for 75% of the principal outstanding amount for a period of ten years, which has
been reflected in the table above.

Cash flow sensitivity analysis for fixed-rate instruments

The Group does not account for any fixed-rate financial assets and liabilities at fair value through profit and loss, and does not designate
derivatives (interest rate swaps) as hedging instruments under a fair value hedge accounting model. Therefore a change in interest rates at the end of the reporting period would not affect profit or loss.

Cash flow sensitivity analysis for variable rate instruments

A change of 100 basis points in interest rates payable at the reporting date would have increased (decreased) equity and profit or loss by the
amounts shown below. This analysis assumes that all other variables, in particular foreign currency rates, remained constant.



|                          |  |                |      |   |                |  |     |                |  |  |                |   |  |  |    | 
|------------------------- |  | -------------- | ---- | - | -------------- |  | --- | -------------- |  |  | -------------- | - |  |  | -- | 
|                          |  | Profit or loss |      |   | Equity         | 
|                          |  | 100 bpincrease |      |   | 100 bpdecrease |  |     | 100 bpincrease |  |  | 100 bpdecrease |  
|                          |  | (000)        |     
|December 31, 2014         |  |                |      |   |                |  |     |                |  |  |                |   |  |  |    | 
|Variable rate instruments |  |                | (251 | ) |                |  | 251 |                |  |  | (91            | ) |  |  | 91 | 
|                          |  |                |      |  
|December 31, 2013         |  |                |      |   |                |  |     |                |  |  |                |   |  |  |    | 
|Variable rate instruments |  |                | (152 | ) |                |  | 152 |                |  |  | (51            | ) |  |  | 51 | 
|                          |  |                |      |  
|December 31, 2012         |  |                |      |   |                |  |     |                |  |  |                |   |  |  |    | 
|Variable rate instruments |  |                | (40  | ) |                |  | 40  |                |  |  |               |   |  |  |   | 



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##### Table of Contents

Fair values and hierarchy

Fair values versus carrying amounts

As of
December 31, 2014, the market price of the 6.00% Senior Secured Notes due 2020 was 105.005 (2013: 106.51 and 2012: not applicable). Using this market price, the fair value of the Senior Secured Notes due 2020 would have been approximately
499 million, compared with its nominal value of 475 million. In 2013 the value of the notes was 346 million compared with a nominal value of 325 million.

At December 31, 2014, the Group had a financial asset carried at fair value, its investment in iStreamPlanet Inc. Furthermore the Group
had a cash flow hedge carried at a negative fair value, to hedge the interest rate risk of part of two mortgages.

The As of
December 31, 2014, the fair value of all mortgages would have been equal to their carrying amount of 31.5 million. As of December 31, 2014, the fair value of the financial lease liabilities would have been 60.2 million
compared with its carrying amount of 52.9 million.

Fair value hierarchy

The Company regularly reviews significant unobservable inputs and valuation adjustments. If third party information, such as broker quotes or
pricing services, is used to measure fair values, then the Company assesses the evidence obtained from the third parties to support the conclusion that such valuations meet the requirements of IFRS, including the level in the fair value hierarchy in
which such valuations should be classified. Significant valuation issues are reported to the Companys Audit Committee.

When
measuring the fair value of an asset or a liability, the Company uses observable market data as far as possible. Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as
follows:



|         |  |                                                                                                                                                                                  
|-------- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Level 1: |  | quoted prices (unadjusted) in active markets for identical assets or liabilities                                                                                                 
|         | 
|Level 2: |  | inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices)
|         | 
|Level 3: |  | inputs for the asset or liability that are not based on observable market data (unobservable inputs).                                                                            

If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair
value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. The Company recognizes transfers between levels of
the fair value hierarchy at the end of the reporting period during which the change has occurred.



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---

##### Table of Contents

The values of the instruments are:



|                                    |  |                |          |   |            |  |          |         |  |  |         |   |  |  |     | 
|----------------------------------- |  | -------------- | -------- | - | ---------- |  | -------- | ------- |  |  | ------- | - |  |  | --- | 
|                                    |  | Carrying value |          |   | Fair value | 
|                                    |  |                |          |   | Level 1    |  |          | Level 2 |  |  | Level 3 |  
|December 31, 2014                   |  |                |          |   |            |  |          |         |  |  |         |   |  |  |     | 
|Senior secured notes 6.00% due 2020 |  |                | (475,643 | ) |            |  | (499,000 | )       |  |  |        |   |  |  |    | 
|Finance leases                      |  |                | (52,857  | ) |            |  |         |         |  |  | (60,200 | ) |  |  |    | 
|Mortgages                           |  |                | (31,487  | ) |            |  |         |         |  |  | (31,487 | ) |  |  |    | 
|Interest rate swap                  |  |                | (368     | ) |            |  |         |         |  |  | (368    | ) |  |  |    | 
|Financial asset                     |  |                | 774      |   |            |  |         |         |  |  |        |   |  |  | 774 | 
|                                    |  |                |          |  
|December 31, 2013                   |  |                |          |   |            |  |          |         |  |  |         |   |  |  |     | 
|Senior secured notes 6.00% due 2020 |  |                | (317,610 | ) |            |  | (346,000 | )       |  |  |        |   |  |  |    | 
|Finance leases                      |  |                | (20,520  | ) |            |  |         |         |  |  | (23,200 | ) |  |  |    | 
|Mortgages                           |  |                | (24,257  | ) |            |  |         |         |  |  | (24,257 | ) |  |  |    | 
|Interest rate swap                  |  |                | 90       |   |            |  |         |         |  |  | 90      |   |  |  |    | 
|Financial asset                     |  |                | 774      |   |            |  |         |         |  |  |        |   |  |  | 774 | 
|                                    |  |                |          |  
|December 31, 2012                   |  |                |          |   |            |  |          |         |  |  |         |   |  |  |     | 
|Senior secured notes 9.50% due 2017 |  |                | (256,268 | ) |            |  | (291,000 | )       |  |  |        |   |  |  |    | 
|Finance leases                      |  |                | (20,361  | ) |            |  |         |         |  |  | (19,800 | ) |  |  |    | 
|Mortgages                           |  |                | (9,903   | ) |            |  |         |         |  |  | (9,903  | ) |  |  |    | 
|Financial asset                     |  |                | 774      |   |            |  |         |         |  |  |        |   |  |  | 774 | 

No changes in levels of hierarchy, or transfers between levels, occurred in the reporting period. Fair values
were obtained from quoted market prices in active markets or, where no active market exists, by using valuation techniques. Valuation techniques include discounted cash flow models using inputs as market interest rates and cash flows.

Capital management

The Boards
policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. The Board of Directors monitors the return on capital.



F-55



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##### Table of Contents

The Groups net debt to equity ratio at the reporting date was as follows:



|                         |  |         |         |   |      |  |         |      |  |  |         |  
|------------------------ |  | ------- | ------- | - | ---- |  | ------- | ---- |  |  | ------- | -
|                         |  | 2014    |         |   | 2013 |  |         | 2012 | 
|                         |  | (000) |        
|Net debt                 |  |         |         |   |      |  |         |      |  |  |         |  
|Total liabilities        |  |         | 736,958 |   |      |  | 522,873 |      |  |  | 443,650 |  
|Less: cash               |  |         | (99,923 | ) |      |  | (45,690 | )    |  |  | (68,692 | )
|                         |  |         |         |   |      |  |         |      |  |  |         |  
|                         |  |         | 637,035 |   |      |  | 477,183 |      |  |  | 374,958 |  
|Equity                   |  |         |         |   |      |  |         |      |  |  |         |  
|Total equity             |  |         | 436,145 |   |      |  | 387,902 |      |  |  | 375,574 |  
|                         |  |         |         |   |      |  |         |      |  |  |         |  
|Net debt to equity ratio |  |         | 1.46    |   |      |  | 1.23    |      |  |  | 1.00    |  
|                         |  |         |         |   |      |  |         |      |  |  |         |  



|21 | Share-based payments
|-- | --------------------

Summary of outstanding options and restricted shares

Share options to acquire a fixed number of shares are granted to employees and others based on a number of factors. The exercise price is fixed
at the date of the grant. The numbers of options listed below are post the reverse stock split 5:1, which was effected on completion of the initial public offering on January 28, 2011.

The terms and conditions of the grants, post reverse stock split, under the 2008 Option Plan with a euro exercise price, were as follows:



|           |  |                     |  |                    |          |  |                           |  |    |                                  |  |  |    | 
|---------- |  | ------------------- |  | ------------------ | -------- |  | ------------------------- |  | -- | -------------------------------- |  |  | -- | 
|Grant date |  | Employees entitled  |  | Exerciseprice in  |          |  | Optionsgrantedoutstanding |  |    | Optionsgrantedoutstanding,vested | 
|           |  |                     |  | (in thousands)     |         
|2010       |  | Senior employees    |  |                    | 6.5-7.50 |  |                           |  | 14 |                                  |  |  | 14 | 
|           |  |                     |  |                    |          |  |                           |  |    |                                  |  |  |    | 
|           |  | Total share options |  |                    |          |  |                           |  | 14 |                                  |  |  | 14 | 
|           |  |                     |  |                    |          |  |                           |  |    |                                  |  |  |    | 

The terms and conditions of the grants, post reverse stock split, under the 2011 and 2013 Option Plans with an
USD exercise price, were as follows:



|           |  |                                     |  |                    |             |  |             |  |       |             |  |  |       | 
|---------- |  | ----------------------------------- |  | ------------------ | ----------- |  | ----------- |  | ----- | ----------- |  |  | ----- | 
|Grant date |  | Employees entitled                  |  | Exerciseprice in $ |             |  | Outstanding |  |       | Exercisable | 
|           |  |                                     |  | (in thousands)     |            
|2011       |  | Key management (Executive Director) |  |                    | 14.74       |  |             |  | 600   |             |  |  | 600   | 
|           |  | Non-executive Directors             |  |                    | 13.00       |  |             |  | 15    |             |  |  | 15    | 
|           |  | Senior employees                    |  |                    | 10.00-14.65 |  |             |  | 423   |             |  |  | 296   | 
|2012       |  | Key management                      |  |                    | 10.00-11.50 |  |             |  | 160   |             |  |  | 70    | 
|           |  | Senior employees                    |  |                    | 13.67-22.64 |  |             |  | 119   |             |  |  | 54    | 
|2013       |  | Key management                      |  |                    | 10.00       |  |             |  | 15    |             |  |  | 4     | 
|           |  | Non-executive Directors             |  |                    | 18.01       |  |             |  | 10    |             |  |  | 10    | 
|           |  | Senior employees                    |  |                    | 15.00-18.00 |  |             |  | 122   |             |  |  | 37    | 
|2014       |  | Senior employees                    |  |                    | 17.50-23.25 |  |             |  | 177   |             |  |  | 46    | 
|           |  |                                     |  |                    |             |  |             |  |       |             |  |  |       | 
|           |  | Total share options                 |  |                    |             |  |             |  | 1,641 |             |  |  | 1,132 | 
|           |  |                                     |  |                    |             |  |             |  |       |             |  |  |       | 

Share options granted before the year 2012, under the 2008 Option Plan, vest over four years and can be
exercised up to five years after the date of grant. Share options granted from 2011 forward, under the 2011 and



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##### Table of Contents

2013 Option Plans generally, vest over four years and can be exercised up to eight years after the date of grant. The options granted in 2011 to the Companys Executive Director,
Non-executive Directors and certain employees as well as the options granted in 2012 to the Non-executive Directors have an accelerated vesting term.

The number and weighted average exercise prices of outstanding share options, post reverse stock split, under the 2008 Option Plan with euro
exercise prices are as follows:



|                         |  |                                     |      |  |                                |  |      |      |  |  |      |  |  |      |     |   |      |  |      |   |  |  |        |  
|------------------------ |  | ----------------------------------- | ---- |  | ------------------------------ |  | ---- | ---- |  |  | ---- |  |  | ---- | --- | - | ---- |  | ---- | - |  |  | ------ | -
|                         |  | Weighted average exercise price in |      |  | Number of options in thousands | 
|                         |  | 2014                                |      |  | 2013                           |  |      | 2012 |  |  | 2014 |  |  | 2013 |     |   | 2012 | 
|Outstanding at January 1 |  |                                     | 5.46 |  |                                |  | 4.98 |      |  |  | 3.94 |  |  |      | 112 |   |      |  | 597  |   |  |  | 2,554  |  
|Granted                  |  |                                     |     |  |                                |  |     |      |  |  |     |  |  |      |    |   |      |  |     |   |  |  |       |  
|Exercised                |  |                                     | 5.05 |  |                                |  | 4.79 |      |  |  | 3.61 |  |  |      | (94 | ) |      |  | (458 | ) |  |  | (1,939 | )
|Expired                  |  |                                     |     |  |                                |  |     |      |  |  |     |  |  |      |    |   |      |  |     |   |  |  |       |  
|Forfeited                |  |                                     | 6.50 |  |                                |  | 6.12 |      |  |  | 5.22 |  |  |      | (4  | ) |      |  | (27  | ) |  |  | (18    | )
|                         |  |                                     |      |  |                                |  |      |      |  |  |      |  |  |      |     |   |      |  |      |   |  |  |        |  
|Outstanding December 31 |  |                                     | 7.19 |  |                                |  | 5.46 |      |  |  | 4.98 |  |  |      | 14  |   |      |  | 112  |   |  |  | 597    |  
|Exercisable December 31 |  |                                     | 7.19 |  |                                |  | 5.36 |      |  |  | 4.76 |  |  |      | 14  |   |      |  | 92   |   |  |  | 456    |  
|                         |  |                                     |      |  |                                |  |      |      |  |  |      |  |  |      |     |   |      |  |      |   |  |  |        |  

The number and weighted average exercise prices of outstanding share options, post reverse stock split, under
the 2011 and 2013 Option Plans, excluding the restricted shares and performance share grants, with US dollar exercise prices are as follows:



|                         |  |                                     |       |  |                                |  |       |      |  |  |       |  |  |      |       |   |      |  |       |   |  |  |       |  
|------------------------ |  | ----------------------------------- | ----- |  | ------------------------------ |  | ----- | ---- |  |  | ----- |  |  | ---- | ----- | - | ---- |  | ----- | - |  |  | ----- | -
|                         |  | Weighted average exercise price in$ |       |  | Number of options in thousands | 
|                         |  | 2014                                |       |  | 2013                           |  |       | 2012 |  |  | 2014  |  |  | 2013 |       |   | 2012 | 
|Outstanding at January 1 |  |                                     | 14.13 |  |                                |  | 13.64 |      |  |  | 13.65 |  |  |      | 1,792 |   |      |  | 1,818 |   |  |  | 1,336 |  
|Granted                  |  |                                     | 18.46 |  |                                |  | 16.75 |      |  |  | 13.43 |  |  |      | 180   |   |      |  | 247   |   |  |  | 609   |  
|Exercised                |  |                                     | 14.60 |  |                                |  | 13.11 |      |  |  | 12.76 |  |  |      | (266  | ) |      |  | (233  | ) |  |  | (92   | )
|Expired                  |  |                                     |      |  |                                |  |      |      |  |  |      |  |  |      |      |   |      |  |      |   |  |  |      |  
|Forfeited                |  |                                     | 18.71 |  |                                |  | 13.86 |      |  |  | 13.00 |  |  |      | (65   | ) |      |  | (41   | ) |  |  | (35   | )
|                         |  |                                     |       |  |                                |  |       |      |  |  |       |  |  |      |       |   |      |  |       |   |  |  |       |  
|Outstanding December 31 |  |                                     | 14.35 |  |                                |  | 14.13 |      |  |  | 13.64 |  |  |      | 1,641 |   |      |  | 1,792 |   |  |  | 1,818 |  
|Exercisable December 31 |  |                                     | 14.17 |  |                                |  | 14.05 |      |  |  | 14.01 |  |  |      | 1,132 |   |      |  | 972   |   |  |  | 666   |  
|                         |  |                                     |       |  |                                |  |       |      |  |  |       |  |  |      |       |   |      |  |       |   |  |  |       |  

The options outstanding at December 31, 2014 have a weighted average remaining contractual life of 5.1
years (2013: 5.7 years and 2012: 5.5 years).

The General Meeting of Shareholders held on June 30, 2014 approved the award to each
Non-executive Director of restricted shares equivalent to a value of 40,000 under the terms and conditions of the Companys 2013 Amended International Equity Based Incentive Plan (the 2013 Option Plan) and containing the
following key terms:



| |  |  | the number of restricted shares will be set on the basis of the Companys share value at the closing of the New York Stock Exchange on the day of this Annual General Meeting;
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | all of these restricted shares will vest on the day of the next Annual General Meeting;
| | - |  | ---------------------------------------------------------------------------------------



| |  |  | the restricted shares will be locked up (be non-exercisable) for a period that will end three years from the date of award or on the date the Non-executive Director ceases to be a director of the Company, whichever is
sooner;
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | on change of control, these restricted shares will vest immediately and any lock provisions will expire. Reference is made to Note 26 for disclosure on the binding agreement with Telecity Group Plc. on all-share merger,
which is considered as a subsequent event.
| | - |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

For the services to be delivered in the AGM year 2014-2015 (the period from June
2014 until the next years Annual General Meeting of Shareholders, currently anticipated to be held in June 2015), a total of 11,976 restricted shares were awarded to the Non-executive Directors (1,996 restricted shares each). These restricted
shares outstanding were awarded at a share price of $27.38 and with an exercise price of nil. As at December 31, 2014, the restricted shares are unvested and are scheduled to vest and be issued at the next Annual General Meeting of Shareholders,
which we anticipate will be held in June 2015.



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For the services delivered in the AGM year 2013-2014 (the period from June 2013 until the next
years Annual General Meeting of Shareholders which was held in June 2014), in total 12,282 restricted shares were awarded to the Non-executive Directors (2,047 restricted shares each). These restricted shares were vested at the Annual General
Meeting of Shareholders held in June 2014 and were issued and transferred to the Non-executive Directors in March 2015.

For his
contribution to the Company in 2013, the Executive Director, based on the Companys performance and his individual performance, earned an initial allocation of 71,979 performance shares. This number was calculated on the basis of the
predetermined conditionally awarded on target equity value for 2013, the Companys average share value during the month of January 2013, as well as the actual Company and individual performance from January 1, 2013 to December
31, 2013. On June 30, 2014, the General Meeting of Shareholders approved to grant 17,995 performance shares (which represented 25% of the initial allocation) to the Executive Director pursuant to the Companys 2013 Amended
International Equity Based Incentive Plan. This first instalment, 25% (17,995 performance shares) of the initial allocation, vested immediately following the approval by the General Meeting of Shareholders of the award. To cover taxes due, the
Executive Director sold 4,995 shares. The remainder of the vested shares are locked up until December 31, 2014 and were transferred in March 2015. The remaining 75% of the initial allocation (53,984 performance shares) was subject to the
Companys relative share performance over the 24 month period from January 1, 2013 to December 31, 2014. As at December 31, 2014, the relative share performance criteria were not met, as a result, the 53,984 performance
shares were forfeited and returned to the pool available for grant.

On July 30, 2014, the Board of Directors approved an award of
restricted shares and an initial award of performance shares for certain members of key management (not the Executive Director) under the terms and conditions of the Companys 2013 Amended International Equity Based Incentive Plan. A total of
20,000 restricted shares were granted. In addition, 35,592 performance shares were granted as initial award. The Company started recognizing related share-based payment charges in the third quarter of 2014. Of the 35,592 performance shares initially
awarded 8,898 shares vested, while the remaining initial performance shares were forfeited as per December 31, 2014 as the performance criteria with regards to the relative share performance were not met.

The number of restricted shares outstanding at December 31, 2014, 2013 and 2012 is broken down as follows:



|                          |  |                            |     |   |      |  |    |      |  |  |   | 
|------------------------- |  | -------------------------- | --- | - | ---- |  | -- | ---- |  |  | - | 
|                          |  | Number of restrictedshares |    
|                          |  | (in Thousands)             |    
|                          |  | 2014                       |     |   | 2013 |  |    | 2012 | 
|Outstanding at January 1  |  |                            | 12  |   |      |  |   |      |  |  |  | 
|Granted                   |  |                            | 351 |   |      |  | 12 |      |  |  |  | 
|Vested                    |  |                            | (91 | ) |      |  |   |      |  |  |  | 
|Expired                   |  |                            |    |   |      |  |   |      |  |  |  | 
|Forfeited                 |  |                            |    |   |      |  |   |      |  |  |  | 
|                          |  |                            |     |   |      |  |    |      |  |  |   | 
|Outstanding  December 31 |  |                            | 272 |   |      |  | 12 |      |  |  |  | 
|                          |  |                            |     |   |      |  |    |      |  |  |   | 

The unvested restricted shares outstanding at December 31, 2014 have a weighted average remaining
contractual life of 2.9 years (2013: 0.5 years).



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The number of performance shares outstanding at December 31, 2014, 2013 and 2012 is broken
down as follows:



|                         |  |                              |     |   |      |  |   |      |  |  |   | 
|------------------------ |  | ---------------------------- | --- | - | ---- |  | - | ---- |  |  | - | 
|                         |  | Number of performance shares |    
|                         |  | (in Thousands)               |    
|                         |  | 2014                         |     |   | 2013 |  |   | 2012 | 
|Outstanding at January 1 |  |                              |    |   |      |  |  |      |  |  |  | 
|Granted                  |  |                              | 107 |   |      |  |  |      |  |  |  | 
|Vested                   |  |                              | (27 | ) |      |  |  |      |  |  |  | 
|Expired                  |  |                              |    |   |      |  |  |      |  |  |  | 
|Forfeited                |  |                              | (80 | ) |      |  |  |      |  |  |  | 
|                         |  |                              |     |   |      |  |   |      |  |  |   | 
|Outstanding December 31 |  |                              |    |   |      |  |  |      |  |  |  | 
|                         |  |                              |     |   |      |  |   |      |  |  |   | 

For the contribution to the Company in 2014, in December 2014, the Board of Directors approved the conditional
award of performance shares for certain members of key management under the terms and conditions of the Companys 2013 Amended International Equity Based Incentive Plan. The actual initial award of 137,574 performance shares was calculated on
the basis of the predetermined on target equity value for 2014, the Companys average share price during the month of January 2014, and the level of the actual Company and individual performance from January 1, 2014 to December 31,
2014. Of the actual initial award level, 25% will vest at the next Annual General Meeting of Shareholders anticipated to be held in June 2015. As at December 31, 2014, this conditional award was not formally granted and therefore not presented
in the table above. Of the conditional award of 137,574 performance shares, 94,485 performance shares are conditionally awarded to the Executive Director. The actual initial award is still subject to the approval of the Annual General Meeting of
Shareholders, which is anticipated to be held in June 2015. The shares will be locked up until December 31, 2015. The Company started recognizing related share-based payment charges related to these awards in the fourth quarter of 2014. Another
25% of the actual initial award will vest on January 1, 2016. The remaining 50% of the actual initial allocation of performance shares is subject to the Companys relative share performance over the 24 month period from January 1,
2014 to December 31, 2015. Upon a change of control, the performance shares may vest immediately and any lock up provision will expire. Reference is made to Note 26 for disclosure on the binding agreement with Telecity Group Plc. on all-share
merger, which is considered as a subsequent event.

Employee expenses

In 2014, the Company recorded employee expenses of 6,576,000 related to share-based payments (2013: 4,149,000 and 2012:
5,488,000). The 2014 share-based payments related expenses include an amount of  92,000 related to taxes and social security charges (2013:  559,000 and 2012: 2,078,000).

The weighted average fair value at grant date of options granted during the period was determined using the Black-Scholes valuation model. The
following inputs were used:



|                                                          |  |      |             |   |      |  |             |      |  |  |             |  
|--------------------------------------------------------- |  | ---- | ----------- | - | ---- |  | ----------- | ---- |  |  | ----------- | -
|                                                          |  | 2014 |             |   | 2013 |  |             | 2012 | 
|Share price in  at grant date (post reverse stock split) |  |      | 17.04-22.31 |   |      |  | 17.94-20.72 |      |  |  | 10.65-16.47 |  
|Exercise price in  (post reverse stock split)            |  |      | 12.68-18.61 |   |      |  | 7.65-16.94  |      |  |  | 7.71-17.45  |  
|Dividend yield                                            |  |      | 0           | % |      |  | 0           | %    |  |  | 0           | %
|Expected volatility                                       |  |      | 35          | % |      |  | 40          | %    |  |  | 40          | %
|Risk-free interest rate                                   |  |      | 0.2%-0.8    | % |      |  | 0.7%-0.8    | %    |  |  | 0.7%-2.0    | %
|Expected life weighted average                            |  |      | 5.1 years   |   |      |  | 5.1 years   |      |  |  | 5.1 years   |  

The significant inputs into the model were:



| |  |  | expected volatility is based on a combination of the performance of the Company and, given the relatively short period that the shares of the Company are traded publicly, other companies that are considered to be
comparable to the Group;
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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##### Table of Contents

| |  |  | the risk-free interest rate based on the yield on zero coupon bonds issued by the European Central Bank for European Union government debt rates with a maturity similar to the expected life of the options;
| | - |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | dividend yield is considered to be nil;
| | - |  | ---------------------------------------



| |  |  | expected life is considered to be equal to the average of the share option exercise and vesting periods.
| | - |  | --------------------------------------------------------------------------------------------------------

The weighted average fair value at grant date of the performance shares granted during the period was determined using the Monte Carlo
valuation model. In addition to the above mentioned inputs an one year holding discount of 5.5% was used as input for the performance shares.

Change
of control clauses

Some awards to key management contain change of control clauses. If after a change of control of the Company
(including any of its successors), the employment agreement is terminated or if the participant is offered a function which is a material demotion to his current position, all options, restricted and performance shares will vest and become
exercisable immediately. Should the employment agreement, other than as the result of a change of control, be terminated prior to the date that all options have vested and should the participant and the Company not have agreed that he will be
providing support or services to the Company in another capacity, the non-vested options will expire with immediate effect.

As at
December 31, 2014, approximately 110,000 options, 95,000 restricted shares and 99,500 performance shares may vest immediately in the event of a change of control. Reference is made to Note 26 for disclosure on the binding agreement with
Telecity Group Plc. on all-share merger, which is considered as a subsequent event.



|22 | Financial commitments
|-- | ---------------------

(Non-)cancellable operating lease commitments

At December 31, the Group has future minimum commitments for (non-)cancellable operating leases with terms in excess of one year as
follows:



|                      |  |         |         |  |      |  |         |      |  |  |         | 
|--------------------- |  | ------- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                      |  | 2014    |         |  | 2013 |  |         | 2012 | 
|                      |  | (000) |        
|Within 1 year         |  |         | 31,604  |  |      |  | 31,793  |      |  |  | 28,755  | 
|Between 1 and 5 years |  |         | 117,009 |  |      |  | 122,087 |      |  |  | 118,418 | 
|After 5 years         |  |         | 185,194 |  |      |  | 218,161 |      |  |  | 223,635 | 
|                      |  |         |         |  |      |  |         |      |  |  |         | 
|                      |  |         | 333,807 |  |      |  | 372,041 |      |  |  | 370,808 | 
|                      |  |         |         |  |      |  |         |      |  |  |         | 

As at December 31, 2014, of the non-cancellable operating leases an amount of  4,795,000 (2013:
 8,319,000 and 2012: 11,557,000) related to the lease contracts, which were provided for as part of the provision for onerous lease contracts.

Of the total operating leases, as at December 31, 2014, an amount of 72,688,000 (2013: 75,188,000 and 2012: 76,188,000)
is cancellable until January 1, 2016.

The total gross operating lease expense for the year 2014 was 25,400,000 (2013: 
24,700,000 and 2012: 22,900,000).



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Future committed revenues receivable

The Group enters into initial contracts with its customers for periods of at least one year and generally between three and five years
resulting in future committed revenues from customers. At December 31, the Group had contracts with customers for future committed revenues receivable as follows:



|                      |  |         |         |  |      |  |         |      |  |  |         | 
|--------------------- |  | ------- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                      |  | 2014    |         |  | 2013 |  |         | 2012 | 
|                      |  | (000) |        
|Within 1 year         |  |         | 253,100 |  |      |  | 219,300 |      |  |  | 204,164 | 
|Between 1 and 5 years |  |         | 343,500 |  |      |  | 301,600 |      |  |  | 240,951 | 
|After 5 years         |  |         | 90,700  |  |      |  | 101,800 |      |  |  | 105,069 | 
|                      |  |         |         |  |      |  |         |      |  |  |         | 
|                      |  |         | 687,300 |  |      |  | 622,700 |      |  |  | 550,184 | 
|                      |  |         |         |  |      |  |         |      |  |  |         | 

Commitments to purchase energy

Where possible, for its own use, the Group seeks to purchase power on fixed-price term agreements with local power supply companies in the
cities in which it operates. In some cases the Group also commits to purchase certain minimum volumes of energy at fixed prices. At December 31, the Group had entered into non-cancellable energy purchase commitments as follows:



|                      |  |         |        |  |      |  |        |      |  |  |        | 
|--------------------- |  | ------- | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                      |  | 2014    |        |  | 2013 |  |        | 2012 | 
|                      |  | (000) |       
|Within 1 year         |  |         | 28,000 |  |      |  | 25,900 |      |  |  | 21,600 | 
|Between 1 and 5 years |  |         | 19,100 |  |      |  | 32,100 |      |  |  | 11,600 | 
|                      |  |         |        |  |      |  |        |      |  |  |        | 
|                      |  |         | 47,100 |  |      |  | 58,000 |      |  |  | 33,200 | 
|                      |  |         |        |  |      |  |        |      |  |  |        | 



|23 | Capital commitments
|-- | -------------------

At December 31, 2014, the Group had outstanding capital
commitments totaling 62,800,000 (2013: 83,800,000 and 2012: 17,900,000). These commitments are expected to be settled in the following financial year. The increase results from the timing of expansion projects.



|24 | Contingencies
|-- | -------------

Guarantees

Certain of our subsidiaries have granted guarantees to our lending banks in relation to our borrowings. The Company has granted rent guarantees
to landlords of certain of the Groups property leases. Financial guarantees granted by the Groups banks in respect of operating leases amount to 5,184,000 (2013: 5,175,000 and 2012: 6,456,000), with respect to
construction in Marseille 5,700,000 (2013 and 2012: nil) and other guarantees amounting to 53,000 (2013: 53,000 and 2012: 211,000).

Site restoration costs

As at
December 31, 2014, the estimated discounted cost and recognized provision relating to the restoration of data center leasehold premises was 1,271,000 (2013: 1,177,000 and 2012: 716,000).

In accordance with the Groups accounting policy site restoration costs have only been provided in the financial statements in respect of
premises where the liability is considered probable and the related costs can be estimated reliably. As at December 31, 2014, the Group estimated the possible liability to range from nil to 20,607,000 (2013: nil to 21,100,000 and
2012: nil to 19,600,000).



|25 | Related-party transactions
|-- | --------------------------

There are no material transactions with related parties,
other than disclosed below, and all transactions are conducted at arms length.



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Shareholders Agreement

On completion of the IPO, the Company entered into a shareholders agreement with affiliates of Baker Capital. For so long as Baker
Capital or its affiliates continue to be the owner of shares representing more than 25% of Interxions outstanding ordinary shares, Baker Capital will have the right to designate for nomination a majority of the members of the Board of
Directors, including the right to nominate the Chairman of our Board of Directors.

If Baker Capital or its affiliates continues to be the
owner of shares representing less than or equal to 25% but more than 15% of the outstanding ordinary shares, Baker Capital will have the right to designate for nomination three of the seven members of the Board, at least one of whom shall satisfy
the criteria for independent directors. For so long as Baker Capital or its affiliates continue to be the owner of shares representing less than or equal to 15% but more than 10% of the outstanding ordinary shares, Baker Capital will have the right
to designate for nomination two of the seven members of our Board, none of whom shall be required to be independent. At such time that the ownership of Baker Capital or its affiliates is less than or equal to 10% but more than 5% of the outstanding
ordinary shares, Baker Capital will have the right to designate for nomination one of the seven members of our Board, who shall not be required to be independent.

In addition, for so long as Baker Capital or its affiliates continue to be the owner of shares representing more than 25% of the outstanding
ordinary shares, Baker Capital will have the right, but not the obligation, to nominate the Chairman of our Board.

So long as Baker
Capital or its affiliates continue to be the owner of shares representing more than 15% of the outstanding ordinary shares, at least one of Baker Capitals Director nominees shall be appointed to each of our standing committees, provided that
such Baker Capital nominees shall meet any independence or other requirements of the applicable listing standards.

In February 2014,
Baker Capital notified the Board of Directors of the Company that pursuant to the shareholders agreement, they intend to designate two additional individuals to be elected at the Companys 2014 Annual General Meeting of Shareholders, each of
whom must meet the standards for independence under the requirements of the NYSE. In June 2014, Mr F. Esser and Mr M. Heraghty have been appointed as Non-Executive Director by the Annual General Meeting of Shareholders.

As at March 31, 2015, private equity investment funds affiliated with Baker Capital indirectly own 26.85%, on a fully diluted basis, of
Interxions equity.

Key management compensation

The total compensation of key management was as follows:



|                                                    |  |         |       |  |      |  |       |      |  |  |       | 
|--------------------------------------------------- |  | ------- | ----- |  | ---- |  | ----- | ---- |  |  | ----- | 
|                                                    |  | 2014    |       |  | 2013 |  |       | 2012 | 
|                                                    |  | (000) |      
|Short-term employee benefits (salaries and bonuses) |  |         | 2,445 |  |      |  | 2,376 |      |  |  | 2,510 | 
|Post-employment benefits                            |  |         | 50    |  |      |  | 60    |      |  |  | 60    | 
|Share-based payments                                |  |         | 1,982 |  |      |  | 1,299 |      |  |  | 1,219 | 
|Crisis wage tax                                     |  |         |      |  |      |  | 125   |      |  |  | 1,565 | 
|Termination benefits                                |  |         |      |  |      |  | 53    |      |  |  |      | 
|                                                    |  |         |       |  |      |  |       |      |  |  |       | 
|                                                    |  |         | 4,477 |  |      |  | 3,913 |      |  |  | 5,354 | 
|                                                    |  |         |       |  |      |  |       |      |  |  |       | 

Key managements share-based payment compensation is disclosed in Note 21.

In 2013 and 2012, the Dutch Government imposed a crisis wage tax payable by employers over the total compensation including the benefit from
options exercised. The crisis wage tax payable over key management compensation including the benefit from options exercised is presented as Crisis wage tax in the table above.

France IX loan

Interxion France is a
member and co-founder of the France IX association, founded in 2010, the mission of which is to reinforce Paris as a global peering point by developing a panel of services that meets the various, and current, needs of the market, and by gathering
together French and foreign ISPs and Internet services, and content providers. In 2011, Interxion France incurred costs which were recharged to France IX association, receipt of which has been formalized in a loan agreement, of which  230,000
was outstanding as at December 31, 2014 (2013: 427,000 and 2012: 620,000). The receivable is presented as a current asset.



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##### Table of Contents

|26 | Events subsequent to the balance sheet date
|-- | -------------------------------------------

On March 9, 2015, the Company and
Telecity Group Plc. announced that they have entered into a definitive agreement on an all-share merger (Implementation Agreement) on the terms as announced on February 11, 2015. The transaction will be structured as an offer by
Telecity Group to acquire all the issued and to be issued share capital of Interxion Holding N.V.

Interxion shareholders will be
receiving 2.3386 new Telecity Group shares per Interxion share. As a result, Telecity Group shareholders will own approximately 55%, and Interxion shareholders approximately 45%, of the combined group. The primary listing for the combined group will
be on the London Stock Exchange with a U.S. listing for Telecity Groups existing ADR programme contemplated on either the New York Stock Exchange or NASDAQ.

Due to its size, the proposed all-share merger is a Class 1 transaction under the UK Listing Rules and therefore requires the approval of
Telecity Group shareholders. Completion of the transaction will also be subject, amongst other things, to Telecity Group having received valid acceptances for at least 95 per cent of the total issued share capital of Interxion (or, at Telecity
Groups election, not less than 80 per cent) and all relevant regulatory and anti-trust approvals.

Prior to launching the
tender offer, Telecity Group and its advisers must prepare a number of documents for filing as part of the US registration and listing process, and Interxion shall undertake consultations on the proposed transaction with relevant works councils,
trade unions and other employee organizations. Final documents are expected to be filed, alongside publication of the prospectus and circular to Telecity Group shareholders, in the second half of 2015. The transaction is expected to close in the
second half of 2015.

Judgments, estimates and assumptions applied by management in preparing these financial statements are based on
circumstances as of December 31, 2014 and based on Interxion operating as a stand-alone company. The closing of the proposed transaction with TelecityGroup may impact future judgments, estimates and assumptions, as applied by management in
preparing our financial statements. Given the fact that the transaction is in an early stage of the merger process, the financial impact cannot be measured in a reliable way.

Irrevocable Undertaking Agreements

Related to the proposed transaction with Telecity Group the following Irrevocable Undertaking Agreements have been signed:

On March 9, 2015, in connection with our entry into the Implementation Agreement with Telecity Group, Lamont Finance N.V. and Baker
Communications Fund II, L.P. signed an irrevocable undertaking agreement with Telecity Group in respect of their Interxion shares to, among other things,: (i) not to sell their shares; and (ii) accept the offer to be made by Telecity Group
pursuant to the Implementation Agreement. In addition, Lamont Finance N.V. and Baker Communications Fund II, L.P. both agreed, subject to certain exceptions, not to sell, transfer, charge, encumber, grant any option over or otherwise dispose of any
interest in any shares of Telecity Group issued to such parties in connection with the proposed transaction and not distributed to their direct or indirect partners or any interest therein at any time before the date falling 180 days after the
closing date of the proposed transaction.

On March 9, 2015, in connection with our entry into the Implementation Agreement with
Telecity Group, Mr. Ruberg signed an irrevocable undertaking agreement with Telecity Group in respect of his Interxion shares to, among other things,: (i) not sell his shares; and (ii) accept the offer to be made by Telecity Group
pursuant to the Implementation Agreement. In addition, Mr. Ruberg has undertaken to exercise his vested options related to 600,000 Interxion shares prior to the consummation of the proposed transaction, and that such shares (after
(i) sales to fund exercise costs, tax liabilities on such exercise and (ii) sales of up to $2,000,000 in net proceeds) will be exchanged in the proposed transaction.

On March 9, 2015, in connection with our entry into the Implementation Agreement with Telecity Group, Messrs. J. Baker, F. Esser, M.
Heraghty, J.F.H.P. Mandeville, R. Manning and R. Ruijter each signed irrevocable undertaking agreement with Telecity Group in respect of their Interxion shares to, among other things,: (i) not to sell their shares; and (ii) accept the
offer to be made by Telecity Group pursuant to the Implementation



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Agreement. Mr. Ruberg and the other Directors, have also agreed, subject to certain exceptions, not to not to sell, transfer, charge, encumber, grant any option over or otherwise dispose of
any interest in any shares of Telecity Group issued to such persons in connection with the proposed transaction at any time before the date falling 180 days after the closing date of the proposed transaction.

In addition, in order to induce Lamont Finance N.V., Baker Communications Fund II (Cayman), L.P., and Baker Communications Fund II, L.P
(Baker Parties) to issue and in consideration of Baker Parties issuing the Irrevocable Undertaking and other good and valuable consideration, it was agreed to pay all legal costs and expenses reasonably incurred by Baker Parties in
connection with the transaction subject to an aggregate total cap of $250,000 (inclusive of any applicable taxes and charges).



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